turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
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.

Yes No
vbyrd7058
Level 1

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?  

posted
‎June 4, 2019 1:36 PM
last updated ‎June 04, 2019 1:36 PM
0
1
221
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Coleen3
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.

‎June 4, 2019 1:36 PM
0
219
Reply
Bookmark Icon

Still have questions?

Make a post
Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics
Live Full Service: Taxes Done for you! Get matched with a local tax expert who can do your taxes, start-to-finish, the same day. Start for free!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

AugustRush1993
kritter-k
crdixonaz
Audio82
owlcreekla

Did the information on this page answer your question?

thumb-up Yes
thumb-down No
close icon
checkmark

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

and start working
on your taxes

File your taxes, your way

Get expert help
or do it yourself.

Get started
close icon
icon help

Access additional help, including our tax experts

Post your question

to receive guidance
from our tax experts and community.

Connect with an expert

Real experts - to help
or even do your taxes for you.

Get started
Manage cookies