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vc-wagner
New Member

Where can I afford 1099-s proceeds from real estate transactions

Where can I add 1099s proceeds from real estate
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2 Replies
Anonymous
Not applicable

Where can I afford 1099-s proceeds from real estate transactions

to simplify the answer, please answer these questions.  is this your personal residence (including personal residence that was previously rented out)?    if your personal residence, did you ever take a home office deduction?    if your personal residence, are you married?   if yes to the previous question did you both own and occupy the residence for at least 2 out of the 5 years preceding sale. 

 

if always rental property, then on schedule e  - the disposition worksheet. 

LeonardS
Expert Alumni

Where can I afford 1099-s proceeds from real estate transactions

The information on Form 1099-S is not directly entered into your tax return.  You will use the information from Form 1099-S along with the settlement statement from the sale of your real estate to report a capital gain or loss.

 

 

To enter the sale of your home with TurboTax open enter home sale in the search box then click jump to home sale.  Follow the screen prompts to enter your sale information.

 

To enter the sale of rental property with TurboTax open enter sale of rental property in the search box then click jump to sale of rental property.  Follow the screen prompts to enter your sale information.

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