I have a form 1099-S from the sale of a vacation home. How do I enter the information under Investment income? When I click on the "Stocks, Mutual Funds, Bonds, Other" section, I'm taken to the "Did you sell any investments in 2020" page. I answer Yes and I am taken to "Did you get a 1099-B or brokerage statement for these sales?" page. If I answer No, I'm taken to "tell us about this sale" page. Now I'm stuck! Previous workarounds are not applicable in 2020. Solution???
@biologist3 I do know that this issue has been reported to TurboTax Moderators for investigation. So far, I've not heard back about resolution, or even a workaround.
I've included your post in the thread where this is being discussed. I will keep you informed as soon as I learn more. So sorry for the difficulty.
@biologist3 Although we are all accustomed to the "old" format for entering 1099-S investment sales, it appears that TurboTax has modified the format and it's not changing.
If you are using the Desktop (CD/Download) TurboTax program, the screenshot below will assist you.
If you are using TurboTax Online (web-based), you can enter the sale by looking for the place to enter an investment sale not reported on a 1099-B, and select Box C or F on form 8949. For the description, enter "Vacation Home". @rjs also reminds you that if you sold the home at a loss, you'll need to check the box on the "less common adjustments" screen, indicating that the loss is not deductible.
Here's that screenshot for Desktop:
I was able to figure it out with the instructions you posted. Not ideal for TurboTax to leave paying customers hanging but luckily there are community members who provided a workable solution. Thanks!
Hallelujah! Unfortunately, TurboTax has decided to leave these screens as they are. I'm not a fan of the change they made, but I don't make the decisions. 😉 So glad you were able to complete your return.
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