Reporting Sale of an Inherited Home

Forum|Forum|1 year ago
February 15, 2025
1 reply
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What sales expenses that were paid by the seller can be included when completing the 1099B when reporting proceeds from the sell of an Inherited Home. These fees were not deducted from the gross proceeds reported on the 1099S I received. As the seller we paid all of the following expenses at closing but not sure which of these can be reported as "Sales Expenses" in Turbo Tax reducing capital gains.

Points

Commissions

Doc Prep Fees

Property Taxes Owed

Title Fees

Recording fees

Best answer by RobertB4444

All of these can be deducted as "Sales Expenses" since the money did not come to you and you are not deducting them anywhere else (this is particularly in reference to the property taxes).

@TheRock1

RobertB4444Answer

All of these can be deducted as "Sales Expenses" since the money did not come to you and you are not deducting them anywhere else (this is particularly in reference to the property taxes).

@TheRock1

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