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I've had a few clients sell their vacation home. They have received a 1099-s for the sale.
I don't want to put this on Sch D because it doesn't feel right to put 1099-s information in a non 1099 related form.
I don't want to put it on 4797 because these weren't business properties.
I don't want to put it on the 1099-s home sale because this wasn't their primary home.
So...... where do I put this information?
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Use the 1099B worksheet Quick Entry table, thats where you report a 1099S. If you double click on the entry line, you'll find a box to check if its a vacation property.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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"it doesn't feel right to put 1099-s information in a non 1099 related form"
Is it just me or does a 1099-s still look like a 1099, only with an S attached?
Slava Ukraini!
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Thank you, Lisa! I've been struggling with this 1099-S for too long!
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@Just-Lisa-Now- wrote:
they really need to change the name of the worksheet from 1099B worksheet to Capital Gains/Loss worksheet, would solve lots of confusion.
Ironically, IMO ProSeries had THE BEST Sch D Wks in the industry. Practically every situation, they had a section for. From stock options to home sale to sale of inherited stocks, it was like the Prego recipe . . . "It's In There!" Then after I left they scrapped it and shoe-horned everything into a 1099-B.
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They still have a lot of that, if you double click on one of the Sch D entry line, you get a page with a bunch of other options, but I agree, they messed with something that didnt need to be messed with.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Intuit did have the best worksheet for sales - I hate having to use the 1099-B for a sale of a second home