Sale of Principal Residence Archives

Knott Learning

Form 1099-S on Form 1040 for 2022 – Principal Residence Exclusion

When a person sells U.S. situs real estate, the transaction is generally reported on a Form 1099-S. The taxpayer uses this information to complete their Form 1040 tax return.

Jason Knott2024-07-03T22:35:59+00:00Tags: Form 1040, Form 1099-S, Sale of Principal Residence|

How to Report IRS Form 1099-S on Form 1040

Whenever a piece of U.S. real estate is sold, the broker generally issues a Form 1099-S to report the gross sales proceeds from the transaction. The seller of the real property uses this information to complete their income tax returns.

Jason Knott2024-07-10T20:01:01+00:00Tags: Form 1040, Form 1099-S, Form 8949, Sale of Principal Residence, Sale of Real Estate, Schedule D|

Company

Legal

Social Media Links

This website includes information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended, and should not be taken as tax, financial, investment, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of this website does not create an attorney-client or confidential relationship. This website does not include information about every financial product or service. Please reference the Terms of Service for specific information. Your use of this website constitutes acceptance of the Terms of Service and Privacy Policy.