My wife and her sister inherited a house from their mother in 2017 and the house was appraised at that time. Her sister lived in the house until her death in 2021, where the sister's children then inherited her portion of the house. We then decided to sell the house.
I believe that my wife's cost basis for her portion of the house comes from the 2017 appraisal, but the sister's children's basis comes from the sale of the house. I have the Escrow Report and a 1099-S from the Escrow Company. I think I understand the numbers as they apply to my wife, but I am having trouble entering this information into Turbotax Premier.
As suggested in other posts, using the investment section of Turbotax Premier starts off okay, but it seems to dwell only on 1099-B forms and never gives me a chance to enter the 1099-S. The only place that I find 1099-S entry is for the "Sale of Home (gain or loss)" section. This almost works since I do not claim any primary home exemptions - since this was not our primary residence. However, the California return marks the home as my primary residence, and I worry that this will be a big problem. So I am kind of stuck...
How should this sale be entered in the Premier edition? Thanks!
