My MIL had closing that incl 2 properties: one part (part land of Primary Residence, 1/2 in deceased spouse's trust & 1/2 in her trust) and 2nd part investment land in her trust only. Form 1099-Ss incorrect, split 50-50, Title Co won’t correct ??

The correction is quite simple and you can take care of the process, you do not have the assistance from the Title Company. See the information under Nominee Returns, which will show the correct sales price for each property. You can choose to process this or simply keep notes in your tax file to show the division of the proceeds and how it should have been reported. 

Report the sales correctly with the correct sales prices for each property sale, one for the residence and one for the rental property. 

Nominee Returns.  This is how the IRS knows what you are doing, if you choose in this case.

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 your MIL as the payer and the other owner, as the recipient. On Form 1096, list your MIL 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.

The forms filed with the IRS should be the red copy (use the form(s) needed) so if you don't have a color printer, go to the IRS website to fill in and print the forms here: : 

• Form 1096
• Form 1099-S

Reporting the home sale should be done using the link below.

• Where do I enter Form 1099-S?

Report the sale of the rental property using the steps below. Be prepared with your sales price/expense for each asset.

You need to dispose of the property by telling TurboTax how and when it was disposed of.  Follow the instructions below.

1. Click on Search (upper right) > type schedule e > Enter > click Jump to .... link
2. TurboTax Desktop continue here:
   1. Answer the questions and on under Rent and Royalty Summary, click Edit
   2. Click Update to the right of Assets/Depreciation.
   3. Click Edit to the right of each asset to remove any check mark
   4. Go through several screens until you get to Tell Us More About This Rental Asset
   5. Select the checkbox This item was sold…….  > Enter the sales date
   6.  And continue through the screens until you arrive back to asset summary.
   7. Repeat for any asset in the list.
3. TurboTax Online continue here:
   1. Select Edit beside your rental property > Scroll to Assets > Edit to see the Asset list
   2. Select Edit beside the first asset and continue to the screen 'Tell us more about this asset'
   3. Select the checkbox 'The item was sold, retired, stolen, destroyed..... > Enter the sales date
   4.  And continue through the screens until you arrive back to asset summary.
   5. Repeat for any asset in the list.
4. Go back to the to to clear any debris in the background.

Please update if you have any additional questions after your follows the steps above. These steps should help to eliminate any re-entry of the assets.