Form 1099-S

[ddagnall1]

Client received 1099-S for sale of personal use land purchased 2 years ago. "Where do I enter" leads me to 1099-B but that doesn't seem right.  Does it get entered directly on Schedule D?  Any help would be greatly appreciated.

[Just-Lisa-Now- · Accepted solution]

We still use the 1099B worksheet (they should rename it to the Capital Transaction Worksheet), just scroll down past the brokerage info to the lines that resemble the old Sch D.

[ddagnall1]

Thanks so much!  Renaming that form would be a plus.  Spent so much time . . .entered it on 1099-B worksheet then removed it, then entered it again.  UGH!

[Slats]

We can probably expect an "update" to Form 1099-B next year. This one is like you said, too confusing and difficult. I expect to see a format along the lines of the 2019 and years before Schedule D format. I guess they were attempting to make the entry of data a bit easier for stock transactions/sales from 1099-Series statements. This form works well for those, albeit a bit frustrating, but we still need something like the original Schedule D for "other' transactions.  "Hey, Intuit are you listening to the users out here in radio land??"

[Just-Lisa-Now-]

It actually works really well once you get used to it, I doubt we'll see the format change much.

You still use it just like the old Sch D, and if you double click on one of the entry lines there is another window that opens for other types of situations.

[Slats]

Still, even for all the noise, I consider the "Capital Gain(Loss) Transaction Worksheet" found in 2019 ProSeries and before to be the simpler, easier method in that there were 12 different parts where you could actually input the data required in a far simpler format. And there was actually a quickzoom button that would take you to the worksheet. I've used that format for 26 years now and found it to be ease of use and gave specific areas to input the various data.  I am also a proponent of "IF IT AIN'T BROKE, THEN DON'T TRY TO FIX IT".  Those of us who endear to a simpler time of life find the "new and improved" of (90 day wonders) to be frustrating.  Still, it's easier than the old skool way of paper, pencil, adding machine and carbon for duplication.  I won't either evolve or dissolve. Which is why after 43 years in the trade, I have clients who have been with me that long, and their children and now grandchildren. I'm appreciated for my knowledge base and expertise, and that is satisfaction enough. Giving the best you can to every client and friend. Simple, complex and everything in between. I do love the challenges.