Have a 1099-S to enter for Sale of Second Home for Michigan. When will form be available for use under Premier? All that comes up is 1099-B, unless I am doing something wrong to enter?
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A Form 1099-S is not entered on a tax return. Only the proceeds shown on the 1099-S are entered.
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.
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 screen Did you sell stocks, mutual funds, bonds, or other investments in 2020? click on Yes
On the screen OK, what type of investments did you sell? click on Other and then on Continue
Continue past the screen Tell us more about this sale
On the screen Now we’ll walk you through entering your sale details, select the type of investment sold in the dropdown on What type of investment did you sell?
Continue with this section until it completes.
Thank you, but when I get to what type of investments do you have? I get no choice. I get nothing other than 1099-B requests. Im frustrated to say the least. Premier just updated this morning. Still not working correctly.
The 1099-B information is entered onto the Form 8949 carrying to Sch D and the sale of the second home is also entered on Form 8949 carrying to the Sch D.
Since it should be reported on Form 1099-S, then the entry should be similar.
Just be sure it looks correct on the 8949.
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