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Level 2
March 3, 2020
Solved

1099-S

  • March 3, 2020
  • 6 replies
  • 63 views

Where do you record Proceeds from Real Estate Transaction?

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Best answer by hillsboro15269

Depends on whether it's the taxpayer's main home or a business property.

If it's the main home, then 8979 with F checked

If it's a business property (rental, investment, etc.), then 4797.

If you're asking where to enter it in ProSeries, click that awesome green "Where do I enter" button and type "1099-S." It should take you straight there.

Happy filing 🙂 

6 replies

abctax55
Level 15
March 3, 2020

Possibilities:

Form 8949 --- then to Sch D

Form 4797

NMI

HumanKind... Be Both
hillsboro15269
Level 5
March 3, 2020

Depends on whether it's the taxpayer's main home or a business property.

If it's the main home, then 8979 with F checked

If it's a business property (rental, investment, etc.), then 4797.

If you're asking where to enter it in ProSeries, click that awesome green "Where do I enter" button and type "1099-S." It should take you straight there.

Happy filing 🙂 

Level 2
March 4, 2020

Thank you,  Your instructions where spot on.  I was able to complete the return and will use that lovely green button "where to enter" 🙂