So I received 1099-S for a second home that I sold in 2022, I bought the house on 2011.
In the investment section, I choose "other (land, second home, personal items, 1099-S"
I entered the agency name under "Enter the name of the person or financial institution that brokered this sale"
and entered the info requested.
When I hit "continue", it shows 1099-B, not 1099-S?
How should I fix it?
@AmyC I saw you answered some similar questions in 2022, it seams like TurboTax did some update, change. Can you look at my question?
Thank you.
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Since you are entering the sale of a second home, reporting that sale through the Investment Income section is appropriate. It will be reported ultimately on Schedule D where any gain will be subject to capital gains tax.
Form 1099-S is not specifically reported as part of your tax return. The information provided on Form 1099-S is used to fill in the details of the sale.
You seem to be on the right track, but if you need more specific information about entering the sale on your return, take a look at the following TurboTax help article:
Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?
Since you are entering the sale of a second home, reporting that sale through the Investment Income section is appropriate. It will be reported ultimately on Schedule D where any gain will be subject to capital gains tax.
Form 1099-S is not specifically reported as part of your tax return. The information provided on Form 1099-S is used to fill in the details of the sale.
You seem to be on the right track, but if you need more specific information about entering the sale on your return, take a look at the following TurboTax help article:
Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?
loss on sale would ve a non-deductible personal loss but you would still have to report sale.
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