1099-S

Forum|Forum|4 years ago
April 13, 2022
1 reply
3 views

Sold a home in 2021. A divorce settlement provided 75% of capital gain to spouse, and 25% to me. I did not receive a 1099-S. There was over $250k in gain, and yet mine was less than $100k. current scenario has me paying over $4k in gain and taxable. Any thoughts?

ColeenD3

Level 15

Was it a second home? A rental? Look on Schedule D and its worksheets or Form 4797 to see exactly how the gain was calculated.

pyoungz30Author

Level 2

no...it was primary residence....the overall amount exceeds $250k.....yet my amount was less then $100k.....and I can not find a way to edit this in TT form.....I did not receive a 1099S

ThomasM125

Level 15

You need to enter your share of the sale proceeds and your share of the cost of the house in the Sale of Home (gain or loss) section under Less Common Income in the Income and Expenses section of TurboTax.

If you lived in the home for two of the previous five years before you sold it, you may be able to exclude up to $250,000 of the gain from taxation.

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