https://ttlc.intuit.com/community/taxes/discussion/re-1099-s/01/2565217#M952682 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">If your parents sold their primary residence they are able to exclude up to $500,000 in capital gains from the sale.&nbsp; To qualify as their primary home they would have to have lived in the home for a period of 24 months in the 5 years before the sale date.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Form 1099-S is an informational form that has information that may or may not have to be reported on a tax return.&nbsp; If would appear that the gross sale amount was less than $500,000, therefore, the closing company issued a 1099-S with no amount reported on Form 1099-S.&nbsp; If this is the case then you do not include Form 1099-S on the tax return.</SPAN></SPAN></P> Wed, 09 Mar 2022 19:54:26 GMT LeonardS 2022-03-09T19:54:26Z https://ttlc.intuit.com/community/taxes/discussion/1099-s/01/2565112#M952681 <P>i received a 1099-s from title company with zero gross proceeds when my parent sold her house. i cant determine how to file it as it wasn't my house, it wasn't an installment sale income, and it wasn't a business property. should i just not include it in my filing since it is a zero value?</P><P>&nbsp;</P> Mon, 09 Mar 2026 08:36:22 GMT https://ttlc.intuit.com/community/taxes/discussion/1099-s/01/2565112#M952681 jetspeed 2026-03-09T08:36:22Z https://ttlc.intuit.com/community/taxes/discussion/re-1099-s/01/2565217#M952682 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">If your parents sold their primary residence they are able to exclude up to $500,000 in capital gains from the sale.&nbsp; To qualify as their primary home they would have to have lived in the home for a period of 24 months in the 5 years before the sale date.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Form 1099-S is an informational form that has information that may or may not have to be reported on a tax return.&nbsp; If would appear that the gross sale amount was less than $500,000, therefore, the closing company issued a 1099-S with no amount reported on Form 1099-S.&nbsp; If this is the case then you do not include Form 1099-S on the tax return.</SPAN></SPAN></P> Wed, 09 Mar 2022 19:54:26 GMT https://ttlc.intuit.com/community/taxes/discussion/re-1099-s/01/2565217#M952682 LeonardS 2022-03-09T19:54:26Z