1099-S question of how to enter in TT

[ERae5630]

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! 

[LindaS5247]

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