NancyB46
New Member

Gifted a home by quit claim , filed with county in my name then sold

I was gifted a home by a quit claim from my step father in October.  No money was involved.  I registered the title in my name.  The property was sold in November to a cash buying company at 60% FMV.  The title company issued a 1099S with gross proceeds as $390,000.  The proceeds were divided with my sister and myself.  How do I enter this into Turbo Tax.