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twcurry
Returning Member

Received inheritance from sale of uncles house. What do I need to file?

My uncle died last year and i received some money from the sell of his house. I have a 1099-S and Form 1041 schedule k-1. I don't know how to file this. 

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tagteam
Level 15

Received inheritance from sale of uncles house. What do I need to file?

On the 1099-S, which names appear as the Filer and the Transferor? On the K-1, which boxes in Part III are populated with numbers?

 

You would be best advised to contact the fiduciary (the executor or administrator) of the estate for clarification.

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2 Replies
GiseleD
Expert Alumni

Received inheritance from sale of uncles house. What do I need to file?

Did you receive a 1099-S for the sale of the home? If so, select the option below for step-by-step instructions on how to make entries:

Regarding the K-1, here's how to enter a K-1 in TurboTax Online:

  • Open or continue your return.
  • Search for K-1 and select the Jump to link in the search results.
  • This will take you to the Schedules K-1 or Q screen.
  • Answer Yes and follow the prompts. You may be prompted to upgrade to Premier, if you're not already using it.
  • We’ll ask some questions about your K-1, and then you’ll enter the data from the form.
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tagteam
Level 15

Received inheritance from sale of uncles house. What do I need to file?

On the 1099-S, which names appear as the Filer and the Transferor? On the K-1, which boxes in Part III are populated with numbers?

 

You would be best advised to contact the fiduciary (the executor or administrator) of the estate for clarification.

View solution in original post

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