Form 1099s data entry into turbo tax

[FeaginsJE]

My wife and her six siblings inherited their home house after their mother passed. Neither of them made it their personal home but stayed in it when in town. In 2024 they decided to sell the home. They all received a 1099s with equal amounts. Where and how should I put the data from the 1099s into Turbo tax. Also, can there be deductions due to the cost of preparing the home for sale. If so, where should that be entered?

[SharonD007]

The sale of your wife's inherited home will be entered  in the Investments section of TurboTax and will be reported on Schedule D.  You can calculate the adjusted cost basis by adding capital improvements made to the home plus the selling expenses to the basis.  (The basis for inherited property is the fair market value on the date of the decedent's death.) 

Refer to the TurboTax article Cost Basis: Tracking Your Tax Basis and Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes? for more information.