1099-S Disappointment

[dpokriefka]

I wasn't able to figure out how to enter a 1099-S associated with the sale of an inherited house using the Deluxe version. Searching through the TurboTax help, I found that I needed to upgrade to the Premier addition. Link to TurboTax Support  --- "You’ll have to use TurboTax Premium to report the sale of a second home, an inherited home, or land."

I was disappointed after paying to upgrade, that the Premier version didn't provide any additional help for entering the 1099-S. 

Is there something that I'm doing wrong? Not sure why I paid to upgrade.

[Hal_Al · Accepted solution]

Q. Is there something that I'm doing wrong? 

A. Yes, but it's not your fault. You're looking for a 1099-S entry point and TurboTax hasn't provided one.

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in  Home & Business)

 - Wages & Income

Scroll down to:

-Investment Income

   -Stocks, mutual funds, Bonds, Other (Real estate is other)

Answer no, when asked if you got a 1099-B. then follow the interview. When asked when you acquired the property, enter the word inherited.

Your cost basis is the fair market value on the decedent's  date of death.

You did need to upgrade. 

[MichelleLO]

The below link also provides the steps you need to follow to enter the sale of a second home.

Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?

[dpokriefka]

Thank you. That's what I ended up doing. But I'm pretty sure I did basically the same prior to the upgrade. It would be a lot nicer if the program provided a 1099-s input section.

Thanks again