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johnb2
New Member

Sale of investment real estate

Do I check "Second Home' or "Everything Else" for the sale of investment real estate property, never used for rental or business and if Second Home should be checked then why do /i need to check Personal Use when in fact it was held for investment and if "Everything else" is checked and the 1099S shows gross proceeds and I put in net proceeds then it wont match to the gross proceeds form sent to IRS and there is not an option to put selling costs under "Everything Else"

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2 Replies
IreneS
Intuit Alumni

Sale of investment real estate

Use the Everything else category and enter the NET proceeds on the screen.

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johnb2
New Member

Sale of investment real estate

Instructions for Form 8849 say to always report the sales proceeds (gross) shown on form 1099S. Help!
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