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February 5, 2020
Question

My mother passed in 2019 and her home went to me and my two sisters via a lady bird deed. We sold the home and each of us received a 1099S. How to report?

  • February 5, 2020
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1 reply

February 5, 2020

See the answer from DoninGA to similar question:

 

To report the sale of an inherited home, you will need to upgrade to the Premier edition.  The Form 1099-S is not entered on a tax return but the information from the form 1099-S is used in reporting the proceeds of the sale.

 

 

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Under Investment Income
  • On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen.  Click on Jump to investment sales

On the next screen, click Yes

On the next screen, click No

On the next screen, choose the option that pertains to the type of investment sale you are reporting and continue with the section until it completes.

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