I live in Michigan, my mother lived in Wisconsin
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You do not need to report the cash inheritance. You only need to report the gain on the house between when you inherited it and when you sold it. If you get a 1099-S for the sale, you can enter it here:
Please open your account and start your return
Click on
Federal
Wages & Income
You may need to choose "I'll pick what to work on" and scroll down to "Investment Income" Show More
Click Start (or Revisit) next to "Stocks, Mutual Funds, Bonds, Other"
"Did you get a 1099-B?" Click No
"Choose the type of investment.." Click "Everything else" and Continue
Follow the screens to enter the investment information.
You will need to enter the date and value when it was inherited or purchased.
You do not need to report the cash inheritance. You only need to report the gain on the house between when you inherited it and when you sold it. If you get a 1099-S for the sale, you can enter it here:
Please open your account and start your return
Click on
Federal
Wages & Income
You may need to choose "I'll pick what to work on" and scroll down to "Investment Income" Show More
Click Start (or Revisit) next to "Stocks, Mutual Funds, Bonds, Other"
"Did you get a 1099-B?" Click No
"Choose the type of investment.." Click "Everything else" and Continue
Follow the screens to enter the investment information.
You will need to enter the date and value when it was inherited or purchased.
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