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simeonej
New Member

I received a 1099-S for $2,000 gross proceeds from the sale of a timeshare. After deductions I received $1100 net income. How do I report this to IRS?

Please provide how to use Turbo Tax to file correctly.  Thank you.

1 Reply
Patrice
New Member

I received a 1099-S for $2,000 gross proceeds from the sale of a timeshare. After deductions I received $1100 net income. How do I report this to IRS?

Follow the steps below to enter your 1099-S

Sign-in to TurboTax Online or Open your return in CD/Desktop version

Click on the following tabs:

Federal Taxes

Wages & Income

I'll choose what I work on

scroll down to Investment Income

Stocks, Mutual Funds, Bonds, and Other , Click Start/Update/Revisit to the right of this category 

Click Yes to "Did You Sell any Investments in 2016?"

'Choose the type of investment’ you sold

Follow the screens to enter information about the sale. 

For more information, see below:


https://ttlc.intuit.com/replies/3302480

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