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gegarrison
Returning Member

Proceeds from Real Estate Sales (sole heir of estate)

I received a Substitute Form 1099 S showing the proceeds from the real estate of my deceased brother.  The court appointed me as a co-representative of his estate.  I am the sole surviving heir of this estate. The Form was initiated by the Title Company that handled the sale.  The Transferors name and Address is listed as: Estate of _________________. How do I report this information in my tax return??? Which Turbo Tax software do I use for this???

 

gegarrison

 

 

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1 Reply

Proceeds from Real Estate Sales (sole heir of estate)

Since you are the beneficiary, you can report it on your own tax return.

It is the sale of an inherited home.

it would not be taxable since your basis is not your brother's basis.

TurboTax Deluxe CD/download will handle it.

 

depending on the size of estate, you may need to file an estate tax return.

That is a different TurboTax program.

 

@gegarrison 

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