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March 12, 2025
Question

Where Do I Input Home Sale 1099S Information For a Home That I Inherited

  • March 12, 2025
  • 2 replies
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I was on the Title of a Home (Inherited) that was sold in 2024.

I received a 1099S reflecting the sale.

All of the Turbo Tax posts I've read say to input the 1099S under "Less Common Income", Sale of a Home.

The people asking previous questions lived in the home, I did not (It was not my primary home). Do I still put in my 1099S information under "Less Common Income, Sale of a Home?

    2 replies

    March 12, 2025

    No.  If you did not live in the home you will enter it as a sale of investment property (even though it was inherited)

    You would enter the sale of the land by clicking the following:

    1. Federal
    2. Income
    3. Show More next to Investment Income
    4. Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
    5. Select Other
    6. Continue through and select Second Home for the type of investment
    7. Answer how you obtained it
    8. You will need to enter the selling price, dates and the cost basis   

    Note, your navigation sequence may be slightly different.  You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen. 

     

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    DoninGA
    Employee
    March 12, 2025

    Since you did not live in the home, you enter the sale as investment income that you inherited.

     

    To enter an investment sale -

    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, Cryptocurrency, 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


    Using the online editions -

    On the screen Did you have investment income in 2024? click on Yes

    On the screen Let's import your tax info click on Enter a different way

    On the screen OK, let's start with one investment type, select Other and Continue

    On the screen Tell us more about this sale enter a Name and Continue

    On the following screen select the type of investment sale on the dropdown What type of investment did you sell?

    Continue with this section until it completes.