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Level 2

Question

1099-S inherted property sold

Forum|Forum|3 years ago
January 29, 2023
5 replies
22 views

Hi

Looking to determine how to post a 1099-S that I received for the sale of property that was inherited from the passing of my parents' trust. Able to locate only the reporting of a sale of a house, but not land. Feedback posts says it will query what it is but doesn't. Any help would be appreciated.

Thanks

Level 15

the land would likely not be reported separately. to make sure you an contact the recorder of deeds in your area which should show the buyer as the new owner.

Mike9241

famtaxman2020Author

Level 2

Thanks for the first response, but I have a 1099-S to report the sale to allow me to get a refund on the state land taxes at sale. I see the sale of primary house but not land option.

Thanks

Level 15

To clarify, did you receive two 1099-S or just one? Also, was the sale of the land sold separately or part of the sale of the house?

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