1099-S: I followed the steps for selling my house, yet I was not asked for the information on the 1099-S form

[KeithWild]

In the Less Common Income section, I followed the steps for the sale of my house. It never asked me to enter in the information on the 1099-S. Is this because the gain on the house was not taxable according to the steps or did I miss something.

[JohnB5677]

The 1099-S has a limited amount of information.  The two most common pieces of information are

• (Box 1 Date of Closing) and
• (Box 2 Gross Proceeds)

You should have been asked for both of these.

You also were asked for the cash basis in the home.  This would include:

• The original purchase price
• Improvements

• Additional closing costs from the original purchase

  • Tax stamps,
  • Attorney fees,
  • Title insurance,
  • Title search and
  • Document preparation fees.

[KeithWild]

Thanks for the quick replay. I went back through the steps and I did see where it asked for information from the 1099-S form. It wanted the Sale date and the Selling price. I must have missed this as it was a long day working on taxes. I wish taxes were not so complicated 😉