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How do I enter a 1099-S transaction for a sale of a vacation residence in Lacerte?

Don Dee
Level 1

When entering a sale of a personal vacation residence the schedule D reflects is in Box E as tho a 1099 E was received from which the data is obtained.  It is a 1099-S.

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3 Comments 3
George4Tacks
Level 15

In the depreciation input for Schedule E,  enter the date of sale only, DO NOT enter a sales price.  Find the input for Disposed of next year in the rental address, etc at the top of input for Schedule E. You will need to refer to the depreciation schedule to do what is in this article.

https://accountants.intuit.com/support/en-us/help-article/form-8949/reporting-sale-home-used-rental-...

 


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BobKamman
Level 15

I'm not a Lacerte user, but the question refers to a 1099-E, which I'm fairly certain does not exist, and then the first answer refers to a Schedule E, when this doesn't seem to be a rental.  

Accountant-Man
Level 13

Poster calls it a "personal vacation residence" and the preparers here might have misinterpreted it to a part-personal, part-rent it for fewer than 15 days vacation home limitation property.

I don't know what it is, but it sounds like it might have just been a second home, not rented out(although I never heard of a 1099-E either).

Solely personal means enter all info on Sch D(or more appropriately 8949).

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