Question

1099-S sale of storage facility

Sold a storage condo unit and received the 1099S. Where do I enter it on Turbotax. Would it fall under other income?

No, if you made money (sold it for more that you paid for it) you would have Capital Gain.

Enter the sale under

Wages & Income

Investment Income

Stocks, Cryptocurrency, Mutual Funds, Bonds, Other START

Select "Add investments" if needed to open that section up

Skip import

Select "Other" for type

Enter the sale using the proceeds listed on the 1099-S

You'll enter what you purchased the unit for

What you sold it for

How long you owned it

Any selling fees/costs

If held over one year, the profit will be long-term capital gain

It will be listed on Schedule D and carried over to your 1040 line 7

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