House Sale

[tbob61]

My wife’s name was placed on her father’s house along with one brother by her father prior to his death four years later. 

The house was sold to a family member and the proceeds split three ways: my wife, her brother whose name was also on the deed and another brother, whose name was NOT on the deed.

I am confused as how to declare my wife’s share of the sale on our joint income tax return.

[JandKit]

Hi tbob61, 

Thank you for this question. I understand that the proceeds were distributed 3 ways. The lawyer attending the sale should very easily settle this by issuing 1099-S to the receivers of the proceeds. If, for instance, the 2nd brother receives no 1099-s indicating his share, those receiving the funds would report their share when filing taxes

[tbob61]

No lawyers were involved in the sale or distribution of the sashes mount to the three siblings.

How does one obtain a 1099-S another way?

Thanks!