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Updated almost 8 years ago on . Most recent reply

User Stats

10
Posts
2
Votes
Elizabeth Z.
  • Investor
  • Oak Lawn, IL
2
Votes |
10
Posts

Sale of Rental Property taxes

Elizabeth Z.
  • Investor
  • Oak Lawn, IL
Posted

I normally do my own taxes and report my rentals. However, I recently sold a rental property and decided to have my taxes done by a tax service company. After reviewing my taxes, I don't see anything being reported on the sale of the property. I called the preparer and he said that another form used for 1099's was used. I don't see it flowing into my 1040. Anyone familiar with how to report a 1099S? I thought it was reported on schedule D and should flow to line 13 of the 1040. Anyone else have theirs reported differently? I'm just afraid they may not have been done correctly and would end up owning late or penalty fees. 

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