Differening answers on inherited house and where to report the sale.

Jodiesfam — Tue, 10 Feb 2026 08:57:20 GMT

My brother and I received a house via a transfer on death deed which is permissable in my state. We sold the house, and each received a 1099-S for the proceeds (each received equal half). When I go into TurboTax Premiere, instructions tell me to put the sale under investments. Within those instructions it only refers to a 1099-B and says to say No when it asks about a 1099-B. I never get that question. I asked the question and someone answered to but it under Less Common Income but that only refers to the sale of primary home. Here are my questions:

Do I ignore that it says 1099-B and go on to input the information?

For FMV do I divide that in half since my 1099-S is for half the sale amount?

For the HUD paperwork/fees, charges etc. do I divide those in half as well?

Thanks

Re: Differening answers on inherited house and where to report the sale.

RobertB4444 — Wed, 31 Jan 2024 18:16:21 GMT

Yes to all of that. The 1099-S only has the sale price, you need to enter it as though it were a 1099-B in order to be able to enter the FMV and selling expenses. And you and your brother would each deduct half of those from the half of the proceeds that you received.

@Jodiesfam

topic Differening answers on inherited house and where to report the sale. in Get your taxes done using TurboTax

Differening answers on inherited house and where to report the sale.

Re: Differening answers on inherited house and where to report the sale.