I received a 1099S as settlement for an easement across my property. Where should this be listed

[MargaretL · Accepted solution]

Although there isn't any gain/loss on the easement "transactions", it should be reported because you received form 1099-S and the IRS has received this form as well. Normally, such income isn't reported, you would only reduce your cost basis in the property by the easement amount received.

Please follow the steps below:

1. Federal Taxes

2. Wages and Income.

3. Scroll down to Investment Income and select Stocks, Mutual Funds, Bonds, Other. Say no to Did you receive Form 1099-B. Category is Everything Else. You will be able to enter the description, date sold, acquired (the date you purchased the entire property), the proceeds (as shown on 1099-S) and cost basis (same amount as proceeds).

[taxfoolSAB]

I am in the same situation as the question/answer below describes.  However, I don't know if the answer has changed with the 2021 version of Turbotax.  When I choose "No" for getting a 1099-B, It takes me back to the income page.  I don't get the opportunity to enter "Everything Else" and then the description, sale price, and date sold as the answer suggests.  

[LeonardS]

If you get a 1099-S you will use Schedule D to report capital gains.  When you are asked if you received a 1099-B answer yes, this will allow you to enter everything else to calculate your capital gain or loss.