DianeW777
Expert Alumni

Deductions & credits

There is no reason for concern.  File the sale of home on your personal return (as indicated by M-MTax) in TurboTax and if you feel better about it you can nominee the 1099-S to yourself from the trust.

 

Nominee Returns.  This is how the IRS knows what you are doing.

Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received).  You must also furnish a Form 1099 to each of the other owners. 

 

File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096)

  • On each new Form 1099, list the trust as the payer and yourself as the recipient. On Form 1096, list the trust as the nominee filer, not the original payer.  The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner (yourself in this case).

The forms filed with the IRS should be the red copy so if you don't have a color printer, go to the IRS website and order the forms here:

@Moth27 

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