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Form 1099-S data entry
To enter information from Form 1099-S, Proceeds From Real Estate Transactions, you can either:
- Use Source Data Entry.
- Use the following tables to find where to enter the information.
Taxpayer's principal residence
Use this table if the property sold was the taxpayer's principal residence.
Form field | Folder > Screen | Field |
|---|---|---|
Transferor’s identification number | Personal Sale > Home | Code the screen unit to T or S to indicate if the Transferor is the Taxpayer or the Spouse. |
Box 1 - Date of closing | Personal Sale > Home | Date former home was sold |
Box 2 - Gross proceeds | Personal Sale > Home | Selling price of home |
Box 3 - Address or legal description | Personal Sale > Home | Description |
Box 6 - Buyer’s part of real estate tax | Personal Sale > Home |
|
note
To report a nondeductible loss on Form 8949, enter
X
in the Report on Form 8949 if not required
field.Sale of any other property
Use this table if the property sold was not the taxpayer's principal residence.
Form field | Folder > Screen | Field |
|---|---|---|
Transferor’s identification number | Personal Sale > Sale | Code the screen unit to T or S to indicate if the Transferor is the Taxpayer or the Spouse. |
Box 1 - Date of closing | Personal Sale > Sale | Date sold |
Box 2 - Gross proceeds | Personal Sale > Sale | Gross sales price or insurance proceeds received |
Box 3 - Address or legal description | Personal Sale > Sale | Description |
Box 6 - Buyer’s part of real estate tax | Personal Sale > Sale |
|
note
- TheBuyer's part of real estate tax code/amountfield reports real estate taxes charged to the buyer at the settlement. Use the code field to properly report this amount on the return. If you use code1 - Real estate taxes already paid; reduce real estate taxes deducted, the application will reduce Schedule A line 6, but not below zero. If you use code2 - Real estate taxes already deducted; report as other income, the application will report the amount as other income on Form 1040, line 21.
- To exclude a loss entered on the Sale screen, enterXin theSale to related partyfield.
This article applies to:
- Product: UltraTax CS
- Return type: 1040 Individual