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Received 1099-S and where to record capital gains for inherited property that was sold
I received a form 1099-S for the 2022 sale of Real Estate (Land and Building) that I inherited in 2002 from my mom. The 2022 sale price was more than the step-up in basis or FMV in 2002, so I know I need to pay capital gains tax on it. However, where do I enter this information on Turbo Tax? Hoping to receive step-by-step guidance on where to enter the information in Turbo Tax. Thank you.
‎February 5, 2023
8:55 AM