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Pinks62
New Member

Sold my parents house, held in a family trust, and received a 1099-s how to handle

I am the trustee of the family trust which has its own federal tax id# . My father lived in the house over 20 years until the year it was sold (2016).  The Title co. sent 1099s with gross proceeds. The house had a reverse mortgage on it. How to handle?
1 Reply
Bird0435
New Member

Sold my parents house, held in a family trust, and received a 1099-s how to handle

http://finance.zacks.com/pay-taxes-sale-home-trust-7676.html  I found this link helpful.  I haven't had to deal with a 1099s as yet, but thought finance.zacks.com was helpful with good information.

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