Customer sold qualifying residence in 2022 for $257,900. Had basis of $150,000 and 10,000 in selling expenses
A1099-S was issued.
My software has a "D" worksheet for calculating sale of personal residence but the data doesn't transfer to 8949.
Manually entered on the 8949 I have listed code "F".
Entered the sales price and cost basis on column "d" & "e" and entered EH in column "f".
Adjustments for selling expenses and sec 121 exclusion total $107,900 and were entered in column "g" to zero out the gain.
Wondering if I'm doing this 8949 correctly and using the right reporting code?
Thanks for comments.
A1099-S was issued.
My software has a "D" worksheet for calculating sale of personal residence but the data doesn't transfer to 8949.
Manually entered on the 8949 I have listed code "F".
Entered the sales price and cost basis on column "d" & "e" and entered EH in column "f".
Adjustments for selling expenses and sec 121 exclusion total $107,900 and were entered in column "g" to zero out the gain.
Wondering if I'm doing this 8949 correctly and using the right reporting code?
Thanks for comments.
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