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    Proseries Question on sale of vacation home at gain...

    Client sold a shack with land on a lake at a gain.... they received a 1099-S, correctly. It needs to go on the 8949 as long term gain, then to Schedule D.... my question is in PROSERIES, how do you get there?
    When I open the Capital Gain Detail entry worksheet, it asks if the transaction was reported on a Form 1099-B or equivalent statement, but not a 1099-S..... of course, checking that box treats the sale as a sale of stock, which is not right. But my concern is that if I don't tell the system somewhere, somehow, that I received a 1099-S, the IRS will not have anything to "match", and tell my client she did not report her gain. Is there some other way/place that I can enter a 1099-S?
    I am using their BASIC product, and their chat is not available for some reason....

    To be clear, I am very comfortable with the tax treatment, my question is ONLY about the software! Thanks for any help you can provide

    #2
    Originally posted by KarenMM View Post
    Client sold a shack with land on a lake at a gain.... they received a 1099-S, correctly. It needs to go on the 8949 as long term gain, then to Schedule D.... my question is in PROSERIES, how do you get there?
    When I open the Capital Gain Detail entry worksheet, it asks if the transaction was reported on a Form 1099-B or equivalent statement, but not a 1099-S..... of course, checking that box treats the sale as a sale of stock, which is not right. But my concern is that if I don't tell the system somewhere, somehow, that I received a 1099-S, the IRS will not have anything to "match", and tell my client she did not report her gain. Is there some other way/place that I can enter a 1099-S?
    I am using their BASIC product, and their chat is not available for some reason....

    To be clear, I am very comfortable with the tax treatment, my question is ONLY about the software! Thanks for any help you can provide
    I don't know if it's the same in Basic, but on the regular version I just enter it directly on Sch D and include 1099S in the description of property.

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      #3
      Originally posted by kathyc2 View Post
      I don't know if it's the same in Basic, but on the regular version I just enter it directly on Sch D and include 1099S in the description of property.
      Same as Kathy. On D

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        #4
        THANKS - A great, non-tech idea!!

        Thanks folks - appreciate the feedback!

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          #5
          KarenMM

          The Pro Series support page is pretty good also at getting answers. They do like to joke some but do give good answers.

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