Sold my mother in law's house. Will I get a 1099 for it?

[dustywp]

She passed away earlier in the year and my wife was the only heir. It didn't go into an estate.

[MargaretL · Accepted solution]

You may receive Form 1099-S from the closing company, although not all of them issue the forms. The 1099-S itself is not entered into TurboTax, but the information form it is.

The sale of inherited property should be reported regardless if 1099-S is received or not.

1. Federal Taxes
2. Wages & Income,
3. Scroll down to Investment Income
4. Select Stock Mutual Funds, Bonds. Select you have not received 1099-B and continue through the interview; the category is Everything else. You will be able to put your description and sale information; indicate that property is Inheritance, you'll be guided through inheritance sale.

Note: You must know the Fair Market Value of property on date the deceased passed away. Since no estate was established, you must other sources such as market comparison from a real estate agent.