I along with my 2 siblings received a 1099-s for inherited property we sold. The amount in the gross proceeds is higher than the amount we received. The title company said they put 33.33% of sale price on all their 1099-s forms. We all received the 1099s form with the same amount since we did not receive separate checks. Only one check was cut and was split after the fact. My question is how do i report this when the amount on the 1099s is different than the total we received. Even when i consider closing costs and other fees, the amount does not come close.
