topic 1099 S in Deductions & credits

1099 S

Jamtucker — Tue, 11 Mar 2025 22:17:35 GMT

Receive a 1099 S on sale of land. estate is still open, the land was outside of the estate.

Re: 1099 S

LindaS5247 — Tue, 11 Mar 2025 22:23:48 GMT

Please clarify your question by adding some additional information about your situation so we may better help you. Such as: What are you trying to do in TurboTax? What Form are you filing? Are you filing a Form 1041 for an Estate or a Form 1040 Individual Tax Return? Is the Form 1099-S in the name of the estate?

Re: 1099 S

Jamtucker — Fri, 14 Mar 2025 11:53:16 GMT

It is a joint tax 1040 form short version and the 1099 S in my wife's name. and the property was sold outside of the estate.

Re: 1099 S

Vanessa A — Fri, 14 Mar 2025 12:14:02 GMT

Are you trying to enter the 1099-S?

If so, since this is not your primary home, you will enter it as investment property.

You would enter the sale of the land by clicking the following:

Federal
Income
Show More next to Investment Income
Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Select Other
Continue through and select land for the type of investment
Answer how you obtained it (inherited)
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.