EDIT - Noticed that the sale was in 2024 and not in 2023 so you report the sale on your 2024 tax return.
You should enter the sale on your tax return now to see if you will have gains on the sale that have to be reported on your tax return. Any taxes owed on the tax return are due and payable on or before April 15, 2024 to avoid the failure to pay penalty and interest accruing on the unpaid amount.
For Form 1099-S is not reported on a tax return. Only the proceeds shown on the form are used.
Assuming this is the sale of a primary personal residence -
If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).
Gain or Loss = Sales Price minus Sales Expenses minus Adjusted Basis (Purchase Price plus the cost of improvements prior to the sale)
If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported. You will need the online TurboTax Premium edition to report the sale if you are using the online editions. Make sure that you indicate that you want the sale of the home reported on your tax return.
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)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button
Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home
