Enter only your share of the sales price, unreimbursed sales expenses, and basis (appraised value). Keep a copy of Form 1099-B in your tax file for this year, as well as all the inheritance information, in case the IRS has questions.
To enter this in TurboTax:
- Go to Federal Taxes >> Wages and Income >>Investments and Saving >Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Click Revisit/Start
- Choose to enter the information yourself
- Click 1099-S and Continue
- Type in a name for the sale
- Choose type of investment you sold: Second Home from drop-down.
- Follow the interview to enter your share of the Second Home Sale Information.
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