turbotax icon
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Sale of 2nd home

I received 1099S for 2nd home sale, it shows gross sales price, but TTax asks for Net Proceeds, should I use Net as recommended?  What happens when IRS sees gross on my 1099 and a different number (net) on my tax filing?  

1 Reply
Intuit Alumni

Sale of 2nd home

You would adjust the basis so that your 1099-S agrees with the figure that the IRS receives on their copy.

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies