Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Apr 9, 2024 11:37:57 PM

Box E vs Box F when selling second home with 1099-S form only

I sold second home that I bought 10 years ago. I notice under my sales section it shows Long-term Box F (Long-term did not receive 1099-B) form which is correct. Because this was a home sold where I only got 1099-S.
But when I look at box f on bottom (Adjustment if any to gain or loss) and under column f (codes from instructions) it has E written in the box is that correct?

0 1 3072
1 Replies
Level 15
Apr 10, 2024 11:09:47 AM

Column f is not the same as box F, and adjustment code E is not the same as box E. Adjustment code E means that you paid sales expenses that are not taken into account in the 1099-S. After you enter the details of the sale in TurboTax you will get a screen that says "Let us know if any of these situations apply to this sale." On that screen, check the box that says "I paid sales expenses that aren't included in the sale proceeds reported on the form." Then enter the additional sales expenses. TurboTax will show the expenses as an adjustment on Form 8949, with adjustment code E in column f.