My brothers and I are in a similar position. I'm following this post. Home was sold, then funds distributed. I did enter the 1099 S as inherited property, in Turbo Tax and it didn't show anything due. I was 1099ed for 160K but after paying her 1st and 2nd mortgages and HELOC loans, we each received less then half that. Is there a place we enter the net ? I guess it doesn't matter since it looks like it's not taxable.
