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Where do I put my 1099-S form if I sold a house I built that isn't my primary home?

I bought the land.  I paid the contractors to build it.  Never occupied it.  Sold the house in 2019. 

 

I received a 1099-S.  I'm using the 2019 downloaded version of Turbo Tax. 

 

I tried following the prompts but it keeps telling me to put it in the business investments section.  The section assumes I got Schedule Q but I didn't.

 

Should I just declare it under Schedule C?

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2 Replies
ErnieS0
Expert Alumni

Where do I put my 1099-S form if I sold a house I built that isn't my primary home?

Report the home sale as a sale of investment property, unless you are in a business of regularly building and selling houses.

 

I’m assuming this is not the case since you mentioned business investments.

 

Here’s how to enter the sale in 2019 TurboTax CD/Download: 

 

  1. Type 1099-b in Search 
  2. Select Jump to 1099-b
  3. On “Did you sell any investments in 2019?” say YES 
  4. On “Did you get a 1099-B or a brokerage statement for these sales?” say NO 
  5. On “Choose the type of investment you sold” select Everything Else 
  6. Fill in “Some Basic Info About This Sale"
  7. On “Tell Us How You Acquired This Property” select Other method 
  8. On "Enter Cost Information," enter the Cost Basis and Date of Acquisition (for the land)
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Where do I put my 1099-S form if I sold a house I built that isn't my primary home?

Thank you for your reply.

 

At the time I was trying to get into the new home construction business.  It wasn't the only new house I built, but it was the last one I sold.  After that, I didn't build or sell new houses, or any more properties.

 

I mentioned the sale of investment property because Turbo Tax prompted me to, not because I really know anything about it.

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