1099s

[BKEXaminer03]

My husband received a 1099S from the sale of his mothers home which he and his brother inherited. The program does not appear to reflect a sale of an inheritance. Any help would be great,thanks!

[rjs · Accepted solution]

Here's how to enter the sale of an inherited house in TurboTax. I am assuming that your husband and his brother did not live in it, rent it out, or make any other use of it between their mother's death and when they sold it.

• Under Investment Income click the Start button for "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other."
• Did you have investment income in 2024? - Click Yes.
• Let Us Enter Your Bank and Brokerage Tax Documents - Scroll down to the very bottom of the screen and click "Skip Import."
• OK, let's start with one investment type - Click Other, then click Continue.
• Tell us more about this sale - It doesn't matter what you enter. If you used a broker, enter the broker's name.
• Now enter one sale -
  - What type of investment did you sell? - Select "Land (other investment purpose."
  - How did you receive this investment? - Select "I inherited it."
  - Description - Enter a short description. The description you enter will appear on your tax return. I suggest "Inherited house."
  - Enter the rest of the information requested, and proceed through the rest of the screens.