How do I enter the sale of home(not principal home) if no 1099S was issued?

[joe7230]

My client's dad quick claimed the deed for his home to my client in 2020.  My client sold the home in 2024

and was never issued a 1099S.  What form should I use to report the sale?  Is the property considered investment property?

[Just-Lisa-Now-]

Sch D, use the 1099B worksheet, scroll down past the brokerage info to the entry table,   

You've got the date sold, youve got the date acquired, youve got the basis and expense of sale, you've got the sales price, enter it like you would if it were a stock sale.

[Terry53029]

Did he ever live in home ? Did dad fill out form 709 ? Did dad pass ? lots of unanswered questions.

[qbteachmt]

Is this other topic from you the same story:

https://accountants.intuit.com/community/proseries-tax-discussions/discussion/how-do-i-enter-sale-of...

No need to ask twice.

[BobKamman]

You don't have to be a lawyer or real estate broker to know the word is "quitclaim."  

[IRonMaN]

Maybe we were referring to how long it took to get done rather than attempting to use a legal term.  😉

[BobKamman]

Those people who skip their voiceless dental plosives preceding a voiceless velar stop will confuse listeners all the time.  

[sjrcpa]

Don't be so sure there wasn't a 1099-S either. 

It's usually in the pile of settlement paperwork.

[qbteachmt]

I've noticed a lack of 1099-S when the sale price doesn't come up to the exclusion amount. It's not taking into consideration the tax rules, but I think the title company is going off of the reporting limit of $250k when there is a single name and $500k co-owned. It also depends on how those 4 questions get answered at closing.

[BobKamman]

I've noticed that the question about "Did you live there two out of the last five years" is often answered incorrectly, perhaps with the encouragement of the title company who wants to avoid work, or save the customer on taxes.