Form 1099 S do I need to put in tax return mother put house under me and sisters 6 yr ago she is now in nursing home and we sold house and split money is this inheratance

[pgioiaj]

Mother is in Nursing home sold house and split money between me and two sisters is this considered inheritance and do i need to put in tax return. House was put under me and two sisters over 6 years

[Patrice · Accepted solution]

Yes, you need to put the 1099-S in your tax return.  You would enter it as a sale of inherited property.

This is the way to enter the sale of a inherited property:

• Select Federal Taxes, Wages and Income, I'll Choose What to Work On
• Scroll to Investment Income and Select Stocks, Mutual Funds, Bonds, Other
• Depending on the screen you see now select either Add Another Account, or Select I'll Type it Myself
• If you see the Financial Institution drop down box then select No Financial Institution
• Now enter your data, and then select add more details
• Select "Everything Else" from the list and continue
• Now complete the remaining questions about the property address, proceeds, date of sale, date of inheritance, fair market value and date of aquired. 

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