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uky
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I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

 
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I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

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 the option Second Home and continue with the section until it completes.

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4 Replies

I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

Was this a personal residence, second home or vacation home?  Was the home ever used as a rental?
uky
New Member

I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

always a vacation home. never a rental.

I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

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 the option Second Home and continue with the section until it completes.

I sold a cottage with no capital gains. Do I have to use Premier turbotax? I already purchased the Deluxe. I will be getting a 1099-S

Note - You will need to upgrade to the Premier online edition to report the sale of the second home.
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