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Did not receive 1099 B. Title Co. says it is not required. How do I complete filing without. It is asking for "description"........ and then other information that I can give. But don't know how to describe. This is in regards to sale of a home.
The title company does not always send a 1099-S for the sale of a house. You did not receive one for this sale. If you had received a 1099-S for the sale of a home, that form is not entered into the program, just the information that is on the form is entered
The way you will report this depends on a few things:
If this is your situation, then you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in and owned the home for two years).
If you had a gain greater then the exclusion amounts then you would have to report the sale. Use the description "sale of personal home".
This should be entered in:
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