1099-S

Forum|Forum|4 years ago
March 9, 2022
1 reply
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We are in the middle of doing our taxes and our turbo tax program has a section 1099-B and 1099-S. It is going through the steps for the 1099-B but does not go into the 1099-S section and I am not sure why. We sold vacant land. Not a business property. Need help

Kathy Yocum

JulieS

Level 15

The sale of vacant land that is not used for business, goes in the same section as 1099-B transactions go.

Here is how to enter it step by step:

Select Federal from the left side menu.
Select Wages and Income toward the top left.
Scroll down/ expand the list and look for Investment Income
Find Stocks, Mutual Funds, Bonds, Other and click on Start or Update to the right.
On the screen titled, Did you get a 1099-B or brokerage statement for these sales? answer No.
On the screen titled, Tell us about this sale, answer I'll enter one sale at a time.
Fill in your information about the sale.
For Holding period, select C for property owned for one year or less and F for property owned for more than one year.