A possible bug in Turbotax2020 (home & Business) on entering "second home sale"???

[Irene2805]

If you received a 1099-S, do not try to report it as a 1099-B.  To address your comments individually:

So, there is a concern of being audited for unreported additional income (as reported in the 1099-S).   

     You are reporting the income from the 1099-S if you follow my instructions.

How do you propose doing so, given that by choosing "No" to the 1099-B, I am unable to modify the "No Financial Institution"  

     There was no financial institution.  You received the funds from the purchaser of the property, through the settlement agent.

I believe I can override that field in Forms mode... Is that advisable, given that it provides needed information?

     No - See comment above.

Also, since a 1099-S will be submitted, should I be unchecking the "Transaction not reported to the IRS" box in that worksheet ....

     No - You are treating this as a stock sale, which it is not,  The IRS does receive a copy of the 1099-S.

For handy reference, here are the instructions for reporting the sale of a second home.  Screenshots are included in my original posting, above.

1. Open or continue your return in TurboTax.
2. In the Search box, enter sold second home and select the Jump to link in the search results.
3. Answer Yes on the Did you sell any investments in 2020? screen.
4. Answer No on the “Did you get a 1099-B or a brokerage statement for these sales?” screen.
5. The next screen is “Tell us about this sale”. Mark the radio button next to I’ll enter one sale at a time
6. On the screen, Tell us about this sale, enter the total sales proceeds as well as the other information requested.  [See Screenshot #1, below.]
7. Continue to the screen, Select any less common adjustments that apply.  (In TurboTax Online: Let us know if any of these situations apply to this sale)
8. Mark the first box The reported sales price did not deduct all fees or selling expenses.  [Screenshot #2]  (In TurboTax Online: I paid sales expenses that aren't included in the sale proceeds reported on the form.) [Screenshot #3]
9. Enter the sales expenses not deducted from the sales price entered earlier.

@amvivaldi

Thanks you for your comments.  I will pass them along.  @LT21