I have a 1099-S for residential land I sold. I use TT Premier CD/Download it generates Form 8949! The IRS instructions on the 1099-S says it should be Form 4797. Why?

[ColeenD3]

No, personal property is capital gain property and flows to Schedule D. Business property income  (rental) is entered on Form 4797.

[walter-morton]

So you are saying the Form 8949 is correct for sale of residential land?

[ColeenD3]

Yes. It is a capital gain. Form 4797 is used for business property. Unless you used the land for business, it is personal and entered on Form 8949.