Where do I add a 1099-S (proceeds from real estate transactions)?

[Queston]

When I jump to form 1099-s from the search field it only shows 1099-b. What am I doing wrong. I have TurboTax Home & Business.

[ToddL99]

See Where do I enter Form 1099-S? and select the appropriate link from the bottom of the article

Other real estate sales

If your 1099-S wasn’t for the sale of your main home, select the option below for step-by-step instructions:

• Sale of a second home, an inherited home, or land
• Sale of a rental property
• Sale of standing timber

[sawgator]

That's all fine and dandy but guess what none of those step pop up on deluxe or premier. I have followed the directions and those steps aren't happening with premier, which I upgraded to Premier because supposedly there wouldn't be an issue.

Any suggestions?

[Hal_Al]

There is no entry place for a 1099-S, in TurboTax.  It depends on what kind of real estate you sold.  Was it your principal residence or something else?

In TurboTax (TT), enter at:

- Federal Taxes tab

 - Wages & Income

Scroll down to:

-Less Common Income

     - Sale of Home

In TurboTax (TT), enter at:

- Federal Taxes tab

 - Wages & Income

Scroll down to:

-Investment Income

   -Stocks, mutual funds, Bonds, Other (Real estate is other)

Answer no, when asked if you got a 1099-B. then follow the interview. 

[sawgator]

Did that  and so I can report it that way? Just the only thing left to get done..!!

[Hal_Al]

Yes

[davejones39]

The Home Business CD does not have a 1099-S.

[Hal_Al]

@davejones39  

No version of TurboTax has a specified entry place for a 1099-S.  Where you enter it,  depends on what kind of real estate you sold. 

If your principal residence, In TurboTax (TT), enter at:

- Federal Taxes tab

 - Wages & Income

Scroll down to:

-Less Common Income

     - Sale of Home

Anything else, enter at:

- Federal Taxes tab

 - Wages & Income

Scroll down to:

-Investment Income

   -Stocks, mutual funds, Bonds, Other (Real estate is other)

Answer no, when asked if you got a 1099-B. then follow the interview. 

[sawgator]

none  do!

[geneagray]

I sold a rental house. I struggled to find the 1099-S form, too. You won't find it, but you can enter the figures. It's not easy to determine how. Sorry.

Gene

[curlyty]

I sold a piece of land that I inherited (in 1992)  . I have a 1099 

s but do not know where to enter it.

[PattiF]

You will need to enter this as an investment sale using as the cost basis the value of the land when you inherited it in 1992. This can be found from consulting historical records of properties if the land or similar parcels were sold within two years of your inheritance. You may need to consult a licensed appraiser to determine an accurate historical value.

Once you have your basis in the land, you will be able to enter the sale of the land by following the instructions in this TurboTax help article.

[johnajorgensen]

I received a 1099S for the sale of farmland and a schedule K-1.  The steps below do not work and if I manually enter the sale into form 4797 and follow the K-1 steps, it doubles my income from the sale.  HELP!

Another option if this is not your home you can use these steps.

1. In the search box, upper right
2. Search for 1099s, sale of property other than main home
3. Jump to 1099s, sale of property other than main home
4. Continue to follow the screens to enter your sale

[LeonardS]

Form 1099-S is an informational form that is used to prepare your tax return.  In your situation, the information on your Form 1099-S is a duplicate of your K-1.   Only enter the information on your K-1 you do not enter the same information from your 1099-S.  This will not cause any issues with the IRS when you file your return.

[Jesusmonge1313]

I never sold nothing i never sold second home rental property and standing timer i didnt even know i even had this .that wasnt me and i need it looked into