Is it possible to correct a 1099-S Main Resid

[newyork1stman]

Personal Tax Question~

Is there a way to change a 1099-S From a Primary Residence to a Second Home?

Situation Explained~

I purchased a home in Florida in 2003 in a non-mandatory country club for 245,000.00 dollars.

Next year the home went into mandatory country club causing my real estate tax rate to fall from

$3,400.00 to $1,200.00 dollars a year. 

I’m retired living on a pension and claimed I lived at my Florida home as my primary residence.

But in reality I lived in California with my second wife for a number of years.

In 2011 I was married for the third time. In 2013 I moved into Las Vegas NV with my new wife

and three step daughters.

In 2015 I bought a new home under my name only is on the deed.

During this time I drive my step daughter to school every day.

Gone to doctors and schedule my weekly allergy shots in 2017.

In March 2016 I rented a U haul 40’ truck and moved 100 percent of my belongs out of the house,

in Florida leaving only tools.

In 2018 and called the West Palm Beach Real Estate tax department and spoke to head of the department and he told me give me your zip code and I tell you the least that your house is worth and so I did. He told me that no house is less than 388,000 dollars.

From 2016 to the day I sold my FL home I worked there months each year so I could update the home.

I installed all new kitchen appliances, new quartz counter tops in both bathrooms, installed new Toto toilets, new kitchen, bath Moen faucets and shower heads, installed new tile bed room floor and new water resistance Pergo Laminate flooring in master bed room. I installed new led lighting fixtures in walk in closets. I installed new central air conditioning. Pant most of the home and garage. Installed drop down hydraulic attic ladder in the garage ceiling. Had the roof repaired. Replaced all lighting in home with led lighting and installed new fan and remote in the outdoor lanai. Installed about 500 bags of dirt around home and replaced and improved all the plants in front and back of home.  There’re many other improvements to many to mention.

Homes across the street at the time of sale were selling for 650 to 850,000 dollars not in the mandatory country club.

I sold the home as my primary residence for 175,000 minus and received a check I believe for 165,000 dollars after broker fees and other closing expenses that I did not mention.

I have signed an apartment lease for a year in Las Vegas in 2014.  Banking, credit cards have my Nevada Address since 2019 and 2020.

The original cost of the Florida home was 245,000 minus home sale 175,000 minus real estate sales fee 10,000 minus all home improvement of between 25 to 35,000 dollars.

I never realized the mistake I made until now when I am trying to do my own 2021 tax returns.

In 2019 I have changed my 1040 tax returns address from Florida to Nevada and filed living in Nevada in the year 2019, 2020 and now 2022.

Can I correct this problem and if so what must I do?

Thank you for any expert assistance you may provide~

[DanP0428]

This sounds like you lost money on the sale of the house so would not owe taxes whether primary or second home.

[ColeenD3]

You will still have to include the house as a second home since you received a 1099-S. I'm still confused about the timeline. 

"In 2013 I moved into Las Vegas NV with my new wife and three stepdaughters."

"From 2016 to the day I sold my FL home I worked there months each year so I could update the home." 

" In 2019 I have changed my 1040 tax returns address from Florida to Nevada and filed living in Nevada in the year 2019, 2020 and now 2022."

Every statement I see leads me to believe this was not your primary residence. It is a moot point because of the loss, but it does affect where you enter the sale.

TurboTax Online

1. Click on Federal > Wages & Income
2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.  If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
3. If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX?  Click the Yes box.
4. On the screen,  OK, what type of investments did you sell? mark the Other box and click Continue.
5. When you get to the screen, Now we’ll walk you through entering your sale details enter the details of the sale.  You will be able to select the type of investment in the first box [second home, land, etc.  
6. Enter the requested information and click Continue when done.