Reporting sale of home sale price

[dobels12]

I sold my home last year and got a substitute 1099-s statement. On the substitute statement (just a settlement form), it lists the "sales price" on the very top of the statement as $300,000. Then it further lists the agent commissions, closing letter fees...etc. After all the fees are subtracted, the actual amount of money that I received from the home sale was around $280,000.

On form 8949 when it asks for the (d) Proceeds (sales price), I'm assuming I put down $280,000 because this is the amount I actually received correct? I'm confused about this, because while the "sales price" is $300,000 I only received $280,000.

Thanks for your help.

[ErnieS0 · Accepted solution]

Enter $300,000 as your sales price. The sales price should match what is reported on Form 1099-S. TurboTax includes a place for sales expenses.

You should see sales expenses if you are entering the home sale in Sale of Home (gain or loss).

• Type home sale in Search in the upper right
• Click Jump to home sale

If this is a second home, enter sales expenses on Let us know if any of these situations apply to this sale.