Here's how to enter your 1099-S for the sale of the home you inherited from your mother:
- Search for "1099b" and use the "Jump to 1099b" to enter the sale of your portion of your mother's home.
- Click "Add more sales" and answer "No" to the question about if you will receive a 1099-B.
- Enter the name of the entity that sent you the 1099-S for the broker's name and continue to the next screen.
- For the "What type of investment did you sell" dropdown, choose Other.
- For the "How did you receive this investment" dropdown, choose "I inherited it".
- Enter the date the home was sold.
- The Proceeds is your portion of the 1099-S. And, according to the accountant the fair market value of the home was the same as your proceeds.
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