Thank you for your replies. I just saw an older post on TurboTax community that said to fill the form 8949 as follows:
Part II – check box F – long term gain/loss basis not reported on 1099B (The sale was reported on 1099S)
Column b date acquired – put in “INHERITED”
Column d proceeds – sales price on 1099S – i.e, $100,000
Column e cost or other basis – step up basis on date of death plus improvements from that date to sale date – i.e., $98,000
Column f codes – code “E” – because 1099S only shows the sales price, selling/closing expenses not shown on 1099S, so the applicable expenses need to be in column g as adjustments
Column g adjustment – put in closing cost on settlement statement plus other qualified selling expenses, show as negative amount – i.e., ($8,000)
Column h gain/loss – column d minus column e plus column g = 100,000 – 98,000 + (8,000) = (6,000)
Is this the correct way to input and fill out form 8949?
