Mobile version - Entering 1099-S for sold inherited home w/siblings. Where is the line “ some or all of the proceeds did not belong to me”?

[DianeW777]

The entry should be divided equally between the siblings for entry on each individual return.  The inherited value, is sold relatively close to the inherited date, would be close to the same as the value on the date of death. This means the cost basis could be close to the selling price, and you may have been provided that information.

Divide the selling price and cost basis between you and each report their own individual share.  The person whose name and social security number (SSN) appear on the Form 1099-S can keep the SSNs of the others if the IRS does inquire later.