My four siblings don't have a 1099-B for the sale of a property that we inherited from our deceased parents. How do I enter my share (1/5) of the CG into TT desktop?
I ask because TT Desktop is calculating it on the entire sale, hence asking how I only pay my fair share w/o having to mail in paper.
031057
3 Replies
MaryK4
Expert Alumni
Apr 13, 2025 10:50:01 AM
You just have to enter your share of the proceeds and adjust the basis accordingly.
NCperson
Level 15
Apr 13, 2025 11:01:31 AM
@LinJs36 - remember that the cost basis is based on the property value on the date of your 2nd to pass parents death....take 1/5 of that.
fanfare
Level 15
Apr 13, 2025 1:29:35 PM
Figure the report as if there were one owner.
Then divide all amounts by five. Give the numbers to the others.