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.
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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
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!
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