Where do I enter my 1099-S?

[lefty_mama]

Sold a recreational property. Where do I enter my 1099S?

[DavidD66]

You report the sale of a personal property in the same section where you report the sale of stocks and bonds.  There is not an entry screen for a 1099-S, but the IRS expects to see the proceeds reported on the form on your tax return.  To report the sale of the property, while in your return:

• Click on Search   
• Type in "Form 1099-S:
• Click on "Jump to form 1099-s"
• If you've already entered some investment sales, click on "Add investments", otherwise 
• Answer  Yes  to "Did you have investment income in 2022?"  
• Click through the program until you get to "Let's import your tax info?", and click on "Enter a different way". 
• Continue and enter the details of your sale. 
• Be sure to adjust your proceeds for any sales expenses like commissions, advertising, etc.

[Addison2024]

My wife inherited her mothers home which was sold and she received a 1099-S.  We were told by her brother and sisters that form 4797 was used to report this transaction without tax issues. I need to amend our return.

[Vanessa A]

Since this was an inherited home and not your primary home, you will enter it as a sale of an investment. 

You would enter the sale by selecting the following:

1. Federal
2. Income
3. Show More next to Investment Income
4. Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
5. Select Other
6. Continue through and select land for the type of investment
7. Answer how you obtained it (inherited)
8. You will need to enter the selling price, dates and the cost basis   

Note, your navigation sequence may be slightly different.  You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.