I received a 1099-s for a home sale, I have no reportable income, the home sale was a loss. Do I still need to file a tax return?

sleonardi62 — Thu, 06 Jun 2019 05:33:53 GMT

The 1099-s form says if it's not filed you could receive a penalty from the IRS. Turbo tax software says I don't need to file a return. Do I need to file a return for the 1099-s or if I don't will the IRS fine me?

Yes, report it on your income tax returns. Per IRS Publi...

HelenaC — Thu, 06 Jun 2019 05:33:57 GMT

Yes, report it on your income tax returns.

Per IRS Publication 544 , chapter 4, Reporting Gains and Losses: Loss from the sale or exchange of property held for personal use is not deductible. But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, as applicable, even though the loss is not deductible.

Where do I enter Form 1099-S?

https://ttlc.intuit.com/replies/3302480

I sold my home. Is this taxable?

https://ttlc.intuit.com/replies/3300213

topic I received a 1099-s for a home sale, I have no reportable income, the home sale was a loss. Do I still need to file a tax return? in Deductions & credits

I received a 1099-s for a home sale, I have no reportable income, the home sale was a loss. Do I still need to file a tax return?

Yes, report it on your income tax returns. Per IRS Publi...