Skip to main content
Level 4
February 16, 2020
Question

is the sale of a second home, with no business use, reported on a 1099 S, reported on the Sale of a home form?

  • February 16, 2020
  • 2 replies
  • 10 views

Received a 1099 S for the sale of a second home. Is this reported on the Home Sales Worksheet? Where is the 1099 S reported? Also where is the state withholding reported?

This topic has been closed for replies.

2 replies

IRonMaN
Level 15
February 16, 2020

Just enter it on schedule D.  Keep in mind that if it was sold at a loss, the loss isn’t deductible.

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
February 16, 2020

I "think" if you use the Homesale worksheet and answer the questions it will limit the personal loss automatically, if you use Sch D you have to limit it manually.

(and while Im thinking about Sch D, it lets me put a sale date that isnt 2019 in that sale date box without an error....I kind of appreciated the babysitting when it squawked at us for that slip up!...end rant  :))

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪