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- Where to Report Income from 1099-S on a 1065
Where to Report Income from 1099-S on a 1065
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tccpg289
Level 4
03-14-2023
06:39 PM
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If a partnership receives a 1099-S for the sale of a property / asset, should the income be reported on Sch. D or Page 1, Line 1? Just want to ensure it flows correctly to the 1040 when importing into that return.
In other software, there would be a entry for the 1099 itself, whereas ProConnect doesn't seem to have that option.
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George4Tacks
Level 15
03-14-2023
07:02 PM
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Pretend there was no 1099S, since there is not specific spot for that form.
My guess is that it was a rental and you were depreciating it. https://proconnect.intuit.com/support/en-us/help-article/federal-taxes/enter-bulk-sale-assets-procon... should contain the HOW TO you need.
Answers are easy. Questions are hard!
