1099 S
In December 2008 my wife’s stepmother died. The will included the following provision.
I give all my real estate owned by me at the time of my death…--equally i.e. one third each to my son…, my daughter…, and my step-daughter, ….with the provision that my son and daughter may live in the house as long as they maintain it. However, should two of the three owners agree to sell, then the house may be sold and the net sales proceeds divided equally among the three…
The son and daughter chose to live in the home. In 2021, the son passed away.
The daughter and the person to which she was “legal” guardian and who now lives with her indicated that they wanted the house. My wife and I agreed. We agreed on an amount for my wife. They dealt with a group that did the legal work to which we agreed. On December 21, 2021, my wife signed the paper. Technically, now the “adopted” daughter owns the home. My wife received the 1099 S and an additional paper spelling out how got what and what was paid. How do we file this? I have completed our taxes on Turbo Tax Deluxe, but have not entered this form.
