In a federal individual return, the taxpayer sold property he kept for more than a year. How do I get an amount shown on a 1099-S for the property to flow to line 1 of the 4797?
If the property appears on a 4562 screen, either
- Complete the IF SOLD section of the screen and select the 1099-S option (Date Sold and Property Type are required entries).
- Enter only the date sold in the IF SOLD section. Next, go to the 4797 screen, enter the sale, and select the 1099-S transaction box.
If the property does not appear on a 4562 screen, complete screen 4797, selecting the 1099-S transaction option.
For more information, see the Instructions for Form 1099-S.