Form 1099-S

I received a 1099-S from the sale of a vacant piece of property. Everything one is telling me to use the search tab for "1099-S, Sale of property other than main home" but nothing comes up. The instructions on the 1099-S form says to use Form 4747 or 6252, but that is not coming up either. What are my options?

577

Expert Alumni

Apr 11, 2022 7:03:05 PM

Enter sale of land in the investment section:

Sale of land gets reported in TurboTax as a sale of an investment.

Please follow the following steps to record the sale in TurboTax:

Withing your return, select Federal tax
Select Wages and Income
On Your Income page, click Start button for Stocks, Mutual Funds, Bond, Other
On Did you sell any investments in 2021?, click on Yes button
On next page, answer whether or not you received a 1099-B or a brokerage statement for the sale
On next page, Choose the type of investment you sold, select radio button for Land and click on Continue button
Enter the details of your land sale on the next page Enter Land Sale Information and click on Continue button
On next page, select radio button for the way you acquired the land and click on Continue button
Enter Cost Information, enter Date Acquired and Original Cost and click continue basis

Level 3

Apr 11, 2022 7:04:36 PM

I had the same problem. Took me a while to sort it out.

Using Step-by-Step go to Investment Income (1099-B or broker statements), first item under there is Stocks, Mutual Funds, Bonds, Other; you add it there. Click Update or Start, which ever is displayed. Click the Add More Sales button at the bottom left to add the 1099-S info.

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Form 1099-S