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Level 3

Question

Form 1099-s

Forum|Forum|6 years ago
March 12, 2020
1 reply
17 views

How to report substitute form 1099-s on form 1040

Level 15

A Form 1099-S is not entered on a tax return. Only the information on the 1099-S is entered.

What was sold? Primary home, Second home, Land, rental property, commercial property, something else?

joemalone1967Author

Level 3

the form was issued for the sale of land transferred years ago by the taxpayer's parents

Level 15

If you are using the TurboTax online editions, to report the Land sale you will need to use the TurboTax Premier online edition.

If you are using the TurboTax desktop CD/Download editions, then any of the editions can be used.

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the next screen, click Yes

On the next screen, click No

On the next screen, choose Land and continue with the section until it completes.