topic Why does TT label my 1099-S information as 1099-B? in Retirement tax questions

Why does TT label my 1099-S information as 1099-B?

kekette66 — Wed, 28 Jan 2026 06:16:43 GMT

the 1099-s was for the sale of unimproved investment property. The form was a substitute 1099-S received from the closing agent

Re: Why does TT label my 1099-S information as 1099-B?

DoninGA — Wed, 29 Jan 2025 22:09:17 GMT

To enter an investment sale -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the screen Did you have investment income in 2024? click on Yes

On the screen Let's import your tax info click on Enter a different way

On the screen OK, let's start with one investment type, select Other for a Form 1099-S and Continue

On the screen Tell us more about this sale enter a Name and Continue

On the following screen select the type of investment sale on the dropdown What type of investment did you sell?

Continue with this section until it completes.

Re: Why does TT label my 1099-S information as 1099-B?

colemancamper — Fri, 14 Feb 2025 01:35:52 GMT

I'm having the same issue with TT listing the proceeds of a timber sale as a 1099-B instead of the 1099-S. No matter what I input, TT keeps showing me I have an error.

Re: Why does TT label my 1099-S information as 1099-B?

MarilynG1 — Fri, 14 Feb 2025 02:45:12 GMT

In the Investment section, choose Stocks, Crypto, Mutual Funds, Bonds, Other.

On the next page, choose Add Investments. Choose 'Skip Import' on the next page.

On the next page, for Investment Type, choose Other and Continue (screenshot).

You'll be asked for details and description on the sale, which you can provide from your 1099-S (you don't actually enter a 1099-S). You can use 'timber sale' as a description.

If you're using TurboTax Online, clear your Cache and Cookies before making any changes.

@colemancamper

Re: Why does TT label my 1099-S information as 1099-B?

jaymeharris1 — Fri, 28 Mar 2025 20:36:53 GMT

Is there somewhere I can manually enter my 1099S sale of land I bought 19 years ago? We were going to build a home, but never did and it just sat there. So we sold it. No matter what I do, it shows as a 1099 B. I'm worried the IRS will penalize me for not showing the proper form.

Re: Why does TT label my 1099-S information as 1099-B?

DoninGA — Fri, 28 Mar 2025 20:45:46 GMT

@jaymeharris1 As stated in the answer directly above your post on this thread, choose the Other option when entering the sale.

Re: Why does TT label my 1099-S information as 1099-B?

DawnC — Fri, 28 Mar 2025 20:46:12 GMT

You won't be penalized; the sale shows up on the proper forms on your tax return. There is no screen for 1099-S entry in TurboTax. All investment sales get reported in the same place.

There is a separate place to enter the sale of your main home (investment sale) to calculate any gain exclusion you may qualify for, but for all other investments, the 1099-B entry screen is used.

See Where do I enter Form 1099-S? You will be taken to Sale of a second home, an inherited home, or land which uses the 1099-B entry screen.

@jaymeharris1