☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 6, 2025 8:59:47 AM

1099-S question of how to enter in TT

I received a 1099-S from the sale of some trees on my property. I am unsure how to enter this information within Turbotax …someone had mentioned doing a miscellaneous income entry and then a cost-basis adjustment to show zero capital gains. Any advice on how to enter the info correctly and whether it should be taxed? 

Thank you! 

0 1 932
1 Replies
Expert Alumni
Apr 6, 2025 9:27:03 AM

You can enter your Form 1099-S into TurboTax as follows: 

 

  1. Click on the search icon in the upper right of your TurboTax screen.
  2. Enter "Form 1099-S" in the search bar
  3. Click on the link "Jump to Form 1099-S"
  4. Click on "Add Investment"
  5. Select "Skip Import"
  6. Click on the box "Other" the box will turn green and a checkmark will appear
  7. Answer the questions regarding your Form 1099-S
  8. You can report the Proceeds = Cost or other basis as mentioned above; this results in no gain.
  9. Answer all follow-up questions 

 

Your TurboTax screens will look something like this:

 

 

 

 

 

 

Click here for Where do I enter Form 1099-S?

 

Click here for About Form 1099-S, Proceeds from Real Estate Transactions