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I inherited a home a couple months ago and just sold the home. I received a 2021/1099-S for the sale. The closing date was Jan 4, 2022. Can I still file taxes now?

 
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2 Replies

I inherited a home a couple months ago and just sold the home. I received a 2021/1099-S for the sale. The closing date was Jan 4, 2022. Can I still file taxes now?

Are you reading the calendar year date on the form or the revision date

 

You need to go by the calendar year date (for calendar year__). Regardless, if you closed in 2022, then, absent unusual circumstances, the transaction would be reported on your 2022 individual income tax return.

Hal_Al
Level 15

I inherited a home a couple months ago and just sold the home. I received a 2021/1099-S for the sale. The closing date was Jan 4, 2022. Can I still file taxes now?

The two statements, "I received a 2021/1099-S for the sale" and "The closing date was Jan 4, 2022" don't jive.  

It sounds like you need to ask the closing agent for a corrected 2021 1099-S (for zero proceeds in 2021) and a 2022 1099-S for the sales amount.

 

Lacking that you do have a small dilemma.  The quick sale of an inherited house seldom results in a capital gain but often results in a capital loss due to the expenses of sale.

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