You'll need to sign in or create an account to connect with an expert.
If your Gross Proceeds on the 1099-S has already reduced the sales expenses, you can then enter the same amount under the Net Proceeds. In most cases the amount Gross Proceeds amount has already been reduced by any fees or commissions.
However, if you need to report fees, commissions, or other sales expenses that were not subtracted from the proceeds reported on Form 1099-B, you can enter these expenses under the blue link sales expenses, below the Net Proceeds on the screen. Please see attached image.
If your Gross Proceeds on the 1099-S has already reduced the sales expenses, you can then enter the same amount under the Net Proceeds. In most cases the amount Gross Proceeds amount has already been reduced by any fees or commissions.
However, if you need to report fees, commissions, or other sales expenses that were not subtracted from the proceeds reported on Form 1099-B, you can enter these expenses under the blue link sales expenses, below the Net Proceeds on the screen. Please see attached image.
wow! 3 years later and TT still hasn't corrected their error. Same issue
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
obeteta
New Member
lasgal
New Member
gecko2420
New Member
Hardway
Level 2
noemail1
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.