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You entered the sale correctly. It gets the same treatment as if you had sold stock or other similar investment property and will appear as such on the investment summary screen in TurboTax.
IRS form 1099-S Proceeds from Real Estate Transactions may report:
The tax treatment of each of these transactions differ. Sale of a second home, an inherited home or land are considered investment sales.
The entry is reported:
I had entered the information from my 1099-S in the 'Other' category of the investment section and selected 'Second Home' and 'Inherited'.
**My concern is after I completed the entry I found that upon returning to the investment section the tab shows this as 'Stocks, bonds, etc. (1099-B)'.
You entered the sale correctly. It gets the same treatment as if you had sold stock or other similar investment property and will appear as such on the investment summary screen in TurboTax.
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