Where do I enter a Form 1099-S?

Form 1099-S is for real estate transactions. It depends on the type of transaction where it is reported on your tax return.

If it is for the sale of your main home, you usually do not need to report anything on your tax return. Go to the Home Sale screen in the Uncommon Income section of the menu to view all the criteria for when a sale of your home needs to go on your tax return. Usually, if your gain on the sale is less than $250,000 ($500,000 if married), you owned the home two years or more, and you have never used your home as a rental property or home office, then there is nothing to report on your tax return for the sale of your primary residence.

If the 1099-S is for a vacation home, investment property, or land, you enter the sales amount shown on the 1099-S on the Stocks or Investments Sold screen in the Common Income section of the menu.

If the 1099-S is for the sale of a rental home, enter your rental property information on the Rental Income screen in the Business Income section of the menu. Then select "Yes" to the question on the Rental Income Information screen that asks if you disposed of your entire interest in the property.

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