Solved

Why after I enter sold inherited second home does it then show as a 1099-B entry?

Forum|Forum|11 months ago
April 7, 2025
1 reply
0 views

I feel like I'm entering in the wrong section even though the box is 'Other' with 'second homes' listed and 1099-S listed on the bottom

Best answer by ThomasM125

You entered the sale correctly. It gets the same treatment as if you had sold stock or other similar investment property and will appear as such on the investment summary screen in TurboTax.

J

JamesG1

IRS form 1099-S Proceeds from Real Estate Transactions may report:

Your main home,
A second home,
A vacation home,
Land,
Residential rental property, or
Real property recorded as a business asset.

The tax treatment of each of these transactions differ. Sale of a second home, an inherited home or land are considered investment sales.

The entry is reported:

on Schedule D of the Federal 1040 tax return, and
on line 7 of the Federal 1040 tax return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

M

Mark-001Author

I had entered the information from my 1099-S in the 'Other' category of the investment section and selected 'Second Home' and 'Inherited'.

**My concern is after I completed the entry I found that upon returning to the investment section the tab shows this as 'Stocks, bonds, etc. (1099-B)'.

T

ThomasM125Answer

You entered the sale correctly. It gets the same treatment as if you had sold stock or other similar investment property and will appear as such on the investment summary screen in TurboTax.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"