@Jesusmonge1313 Nobody here, in this forum, or in TurboTax, can help you "look into this". it sounds like you need to talk to whoever is handling the estate for your inheritance.
If you think the 1099-S was issued in error, we can tell you how to handle that, for your tax return.
If you received an erroneous 1099, you have several choices:
- Ideally, you get a corrected 1099-S from the payer
- Don't report it on your return. Attach a copy of the 1099-S and a statement explaining the circumstances. You can't e-file. From the IRS instructions for form 1099-Misc: Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly (don't add it to your return).
- Report the income as misc line 8z, Schedule 1 income then take a deduction for the same amount In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income - Answer yes to Any other Taxable Income -On the next screen, Enter the amount from the 1099-S. Briefly explain at description. Call it something like Erroneous 1099-S income
Then enter a line 8z deduction, for the same amount. In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income - Answer yes to Any other Taxable Income -On the next screen, Enter the number with a minus sign (-) in front. Briefly explain at description. Call it something like "Erroneous 1099-S adjustment"
4. Do nothing and hope you can explain it away when & if the IRS contacts you
