I inherited a property last year and sold it. The money was divided between my brother and I. When I sold the property I never received a 1099 only a 593 form. I was wondering if I need a 1099 form? Is a 1099 form necessary...or will I get penalized?
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No, a 1099-S is not necessary. It's only for informational purposes.
The sale of your inherited home is entered in the investment section of TurboTax. Follow these instructions:
Source: TurboTax FAQ
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