turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I shared in proceeds of my ***** parents home with my siblings last year. I have a 1099-S form but do not see it anywhere to enter the information. Where should I post?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
HelenC12
Expert Alumni

I shared in proceeds of my ***** parents home with my siblings last year. I have a 1099-S form but do not see it anywhere to enter the information. Where should I post?

Form 1099-S is an informational form for various different transactions. TurboTax does not have a specific entry where you could enter the 1099-S Form like you would 1099-INT or a W-2. 

You need to report the sale of the home and report any gain you may have. Losses on personal property are not deductible but any gain is taxable. 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I shared in proceeds of my ***** parents home with my siblings last year. I have a 1099-S form but do not see it anywhere to enter the information. Where should I post?

Nowhere, because if you just voluntarily gave them a portion then is is a unreportable  gift from you to them,  however if over $15,000 to any one person then you must file a form 709 gift tax return.    No tax, but just to apply the gift to your lifetime $11.4 million exemption.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

I shared in proceeds of my ***** parents home with my siblings last year. I have a 1099-S form but do not see it anywhere to enter the information. Where should I post?

Are your parents deceased? Did you and your siblings inherit the house? If they passed, were you and/or your siblings on title before they passed? Did you or one of your siblings live in the house?

 

More details are needed to provide an accurate answer.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies