The Form 1099S is entered into TurboTax by using the steps shown here.
Form 1099 S is entered in the Less Common Income section of Turbo Tax (online or desktop).
- Select Federal Taxes
- Select Wages and Income
- Scroll down and select 'Show More' at Less Common Income
- Select Start at Sale of Home
- The program will prompt you on how to handle if this home or property was not your primary residence.
Remember that the 'Cost Basis' of the home sold will be the Full Market Value on the date it passed to your mother in law, and remember to include Sales Expenses.
Here's more detailed info on Reporting the Sale of a Second Home, Inherited Home or Land.
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