Solved: If I paid a Seller Credit, which box do I add the amount to if not in the Sale Expense section?
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If I paid a Seller Credit, which box do I add the amount to if not in the Sale Expense section?

I sold my house for 300,000 and paid 10,000 seller help.  My 1099-S has this number listed on it so Im not sure if it's ok to reduce the number to 290,000 and enter that in the sales price box or if I add it seperately somewhere else in TurboTax.
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If I paid a Seller Credit, which box do I add the amount to if not in the Sale Expense section?

It depends -

You will need to include the full amount reported in Box 2 as gross sales amount. If this extra seller credit amount was already subtracted from the box 2 amount, then you will include the reduced amount as gross income. If this seller credit is listed on the 1099-S but not in box 2, then you will include this as a selling expense. You would be able to enter this selling expense on the same page as your sales proceeds (See screenshot).

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Highlighted
New Member

If I paid a Seller Credit, which box do I add the amount to if not in the Sale Expense section?

It depends -

You will need to include the full amount reported in Box 2 as gross sales amount. If this extra seller credit amount was already subtracted from the box 2 amount, then you will include the reduced amount as gross income. If this seller credit is listed on the 1099-S but not in box 2, then you will include this as a selling expense. You would be able to enter this selling expense on the same page as your sales proceeds (See screenshot).

View solution in original post

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