Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.
02-22-2016 08:48 AM
The most common use of this form is foreclosure of a home.
If this was your primary residence answer the questions as if you sold it to bring up the correct worksheet. Most likely you will have a nondeductable loss on the transfer. If this was not for a residence but some other property please advise what it was and we will point you in the right direction.
07-11-2017 06:48 PM
Welcome to the H&R Block community.
If you have a gain on this foreclosure then you will need Schedule D and will need to upgrade to Deluxe at a minimum. If you have any gain from this foreclosure sale you will likely receive a Form 1099-C as well, and you'll find the questions for Form 1099-C that will determine if any of the gain is excludable in the "other income" section. If you don't or didn't get a 1099-C just let us know and we'll help you determine if you have a gain or a loss and guide you through entering it in the software (if you need to do so).
Senior Tax Advisor (Tampa, FL)
08-30-2017 02:34 PM
Thanks for the information. It took me a while to find this post again.
I did not have any gains from the foreclosure or have I received a 1099-C as of now. Its been almost 2 years well.
Can i just purchase the Deluxe version from the store? Also i typically use Turbo tax but seems there is limitation with Turbo Tax and Can i just upload my turbo tax information from last year in your software?