Where do I enter my 1099-S from the sale of a Disney Vacation Club membership that has a profit gain?

[AnnetteB6]

The sale of a vacation club membership is treated as the sale of a second home or real estate investment.  It is entered in the Investment Income section of your return and reported on Schedule D for Capital Gains and Losses.

See the following TurboTax article for detailed instructions to enter your information.  You will use Form 1099-S as a guideline for the information required, but you will not enter the 1099-S specifically into your return like you would a W-2, for example. 

Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?

[jen4577]

I entered everything and it keeps coming up that is needs review. I'm not sure what other info is needed. Please help!

[LeonardS]

Form 1099-S is an informational form that lists the gross sale price of your Disney Vacation Club membership.  The form itself is not entered into TurboTax.  The amount shown on your form 1099-S Box 2 Gross proceeds is used to calculate any gain or loss on the sale of your Disney Vacation Club.

You will report the sale of the membership as the sale of a second home.  Follow these steps to report the sale:

1. Open or continue your return
2. In the search box, search for sold second home and select the Jump to link
3. Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2021? screen
   • If you land on the Your investment sales summary screen, select Add More Sales
4. On the OK, let's start with one investment type screen, select Other, then Continue
5. On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale
6. On the next screen, select Second Home (choose this also for inherited homes) or Land and answer the questions to finish entering your sale

This link Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?  Has information you may find helpful.

[Rberrier]

can I use turbo tax deluxe cd version to do this ? 

[DoninGA]

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@Rberrier wrote:

can I use turbo tax deluxe cd version to do this ? 

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Yes.  The TurboTax Deluxe desktop CD/Download edition supports entry of an investment sale.

[Rberrier]

Thanks

[leme2009]

Good Evening,

The 1099-S that I received from the title company that sold our Disney Vacation Club (DVC) membership only lists the gross proceeds of the sale of my DVC; however, the total does not include the commission that I was charged as well as the additional fees. Do I still list the total that is on the 1099-S even though when you add the other fees/commission, the total is more? The 1099-S also doesn't account for the credit we received for the "2022 Annual Dues Paid in Advance". I hope this makes sense.

[JamesG1]

To report the Disney Vacation Club Membership sale in TurboTax Online Premier version, follow these steps.

• Go to Federal Taxes / Wages & Income / Your income / Investments and Savings / Stocks, Mutual Funds, Bonds, Other.
• Select Start / Update / Revisit to the right.
• Select Add investments.
• At the screen Get ready to be impressed, click Continue.
• At the screen Let’s import your tax info, click Enter a different way.
• At the screen OK, let’s start with one investment type, click Other, land, second home, personal items, 1099-S).  Click Continue.
• Under What type of investment…., select Other.

Enter the sales information.  There may be information needed that is not reported on the 1099-S.

It is also possible that you have a tax liability to a state other than your resident state.

@Rberrier