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Chester10
New Member

If I put on Line 21 of schedule E worksheet under dispositions the total sale amount what goes on line 24?

If I put the sales amount from the 1099-S on Line 21, what is supposed to go on line 24 of the worksheet? If I put the value of the land from the tax bill in there wont it make the sale that much higher? Or am I supposed to reduce line 21 by the amount of the land?

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Accepted Solutions
TerryA
Level 7

If I put on Line 21 of schedule E worksheet under dispositions the total sale amount what goes on line 24?

Lines 21 and 24 are separate - do not include in line 21 any amount of the total sales price attributable to land. If the 1099-S is the total sales price then divvy it up between lines 21 & 24 as best you can.

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1 Reply
TerryA
Level 7

If I put on Line 21 of schedule E worksheet under dispositions the total sale amount what goes on line 24?

Lines 21 and 24 are separate - do not include in line 21 any amount of the total sales price attributable to land. If the 1099-S is the total sales price then divvy it up between lines 21 & 24 as best you can.

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