topic Sale of inherited home - how to enter in Turbo Tax in Get your taxes done using TurboTax

Sale of inherited home - how to enter in Turbo Tax

Stephen Szoradi — Mon, 09 Mar 2026 09:03:21 GMT

My sister and I were deeded our mothers home upon her death in May of 2021. We sold the property within 4 months in as is condition and split the proceeds. We each received a 1099s. While I don't believe we should be charged capital gains, I am not sure how to enter this in turbo tax. Do we list it in the investment income section (Turbo Tax Premier), even though we did not receive a 1009-r or do enter it in the home sale section? Currently, I have it entered in the Investment income section, but want to make sure this is correct.

Re: Sale of inherited home - how to enter in Turbo Tax

Mike9241 — Sat, 05 Mar 2022 17:49:52 GMT

sorry for your loss

each of you reports on form 8949/schedule D the sale proceeds per 1099-S (investment section)

for its tax basis, you each use 1/2 of the date of death value

in addition, you are allowed to deduct your share on selling expenses.

if there is a loss it's only deductible if it was no personal use after she died

Re: Sale of inherited home - how to enter in Turbo Tax

Anonymous_ — Sat, 05 Mar 2022 17:56:37 GMT

In addition to what @Mike9241 wrote, ensure that you indicate the holding period is long-term (Box F) and type "inherited" as the date acquired.

Re: Sale of inherited home - how to enter in Turbo Tax

Stephen Szoradi — Sat, 05 Mar 2022 20:04:14 GMT

Thanks for the information. I am still in need of clarification - the home was sold for $480,000.00. So, the sales proceeds (box 1d in Turbotax I would enter 480,000.00 or would I enter 1/2 of that amount since I split the sale with my sister? Same question for Box 1e, which is the cost basis total.

Re: Sale of inherited home - how to enter in Turbo Tax

Anonymous_ — Sat, 05 Mar 2022 20:15:31 GMT

You stated that you each received a 1099-S. If so, are the proceeds split?

Clearly, you would enter half of the sales proceeds (less selling expenses) and half of the adjusted basis.

Re: Sale of inherited home - how to enter in Turbo Tax

Stephen Szoradi — Sat, 05 Mar 2022 20:22:48 GMT

Each of our 1099s forms list the total the home was sold for. (480k). It was not split.

Re: Sale of inherited home - how to enter in Turbo Tax

Anonymous_ — Sat, 05 Mar 2022 20:42:27 GMT

Then you should either request a correct 1099-S or do a nominee distribution.

Re: Sale of inherited home - how to enter in Turbo Tax

Anonymous_ — Sat, 05 Mar 2022 20:43:35 GMT

In other words, you each report the entire amount on the 1099-S and then indicate you received one-half as nominee for the other (effectively, one-half is subtracted from your return).

Re: Sale of inherited home - how to enter in Turbo Tax

Stephen Szoradi — Sun, 06 Mar 2022 00:08:26 GMT

That makes sense. Thank you for your help.