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f 1099-s for the sale of a second home. I enter the requested date of sale, proceeds, cost basis, etc. into turbo tax, it reads as form 1099-b stock sales. why?

 
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2 Replies
rjs
Level 15
Level 15

f 1099-s for the sale of a second home. I enter the requested date of sale, proceeds, cost basis, etc. into turbo tax, it reads as form 1099-b stock sales. why?

It's sounds like you might have entered the sale in the wrong place. On the screen that asks for the investment type, click "Other (land, second homes, personal items)."

 

ThomasM125
Expert Alumni

f 1099-s for the sale of a second home. I enter the requested date of sale, proceeds, cost basis, etc. into turbo tax, it reads as form 1099-b stock sales. why?

In TurboTax, the sale will appear under the heading Stocks, Bonds, etc. (1099-B). That means it could be a stock, Bond, or similar investment sale such as those reported on Form 1099-B. It doesn't mean it has to have been reported on a Form 1099-B though. The gain on sale of the house is reported similar to the gain on sale of an investment reported on Form 1099-B. It will show on Schedule D and Form 8949 as an investment sale.

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