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March 12, 2025
Question

Do I have to report on my tax return a non-qualifying home sale, even though a loss, if I got a 1099-S?

  • March 12, 2025
  • 1 reply
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TurboTax is not asking if I want to report it?

    1 reply

    DoninGA
    March 12, 2025

    If you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported. You will need the online TurboTax Premium edition to report the sale if you are using the online editions. Make sure that you indicate that you want the sale of the home reported on your tax return.

     

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Scroll down to Less Common Income
    On Sale of Home (gain or loss), click the start or update button


    Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home