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KAI27
New Member

Where do I report 1099-S Information for sale of my mother's home upon her death

mother died, house was appraised at time of death and later sold for more than the appraised value; i received a 1099-S from title company but not clear where I include in my tax return

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HelenC12
Expert Alumni

Where do I report 1099-S Information for sale of my mother's home upon her death

The 1099-S form is informational form. To enter the sale of an inherited home, see  Where do I enter the sale of a second home, an inherited home, or land on my 2020 taxes?

 

The inherited home is a capital asset. When you sell a capital asset, the difference between its cost basis and the selling price results in a capital gain or loss.

  • A capital gain is when your asset's sales price exceeds its cost basis (in other words, you made money). Capital gains must be reported on your tax return.
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