In TT how do I report sale, cost basis and capital gains on a non- Residential real estate transaction, a boat slip in this case.

[rarich96]

The transaction was executed through a realtor and real estate lawyer, and I received a Form 1099-S, but am not sure of where to enter it in TurboTax.

[DianeW777]

This is an investment sale and can be reported as follows. Since it appears to be personal use property a loss would not be allowed.

To enter your sale in TurboTax, follow these steps. Click this link for more information. Where do I enter Investment Sales?

1. Open or continue your return.
2. Navigate to the investment sales section:
   • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
   • TurboTax Desktop: Search for investment sales and then select the Jump to link. 
     • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
3. Answer Yes to the question Did you sell any of these investments in 2024? (or Okay! to Time to kickoff your investments!).
   • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.

Please update here if you have more questions and we will help.