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4spolson2
New Member

1099s proceeds from real estate transactions I received a 1099-S form for a temporary construction easement, roughly $1000.00. How do I report this in TurboTax?

I didn't sell or buy anything, it's just a temporary use of property by a construction company.

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1 Reply
DS30
New Member

1099s proceeds from real estate transactions I received a 1099-S form for a temporary construction easement, roughly $1000.00. How do I report this in TurboTax?

Since this would actually be considered rental income, you need to contact the construction company and ask them to issue you a 1099-MISC instead of a 1099-S.

However, if the company is unwilling to send you a 1099-MISC and correct the 1099-S, then just reduce the basis of your land by the amount received. (No reporting requirement would be necessary in this instance. Just keep a record of this transaction with your tax files.)


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