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g-amber-ried
New Member

1099s sale of home

I don't see where 1099S gets entered from the sale of my Mom's home. She passed away in 2016. 1099S shows whole amount of sale, where do I put how much the outstanding mortgage lender got?
1 Reply
Coleen3
Intuit Alumni

1099s sale of home

The mortgage has nothing do do with the sale of a home. You would compare the original purchase price and improvements to the sales price on the 1099-S, if you are reporting the income on her return or her estate return. If you inherited the house after she died, your basis would be the Fair Market Value on the date of death.

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