If the "transferor" on a 1099S (home sale) is listed as "Estate of...", do I need to report any of this on my personal income taxes if the estate was under 5 million USD?

[melinda-merola]

I inherited a house that was sold by an estate. The estate was then closed and the proceeds (including sale of the home) were then distributed to my sister and I. The 1099S does not have my name on it.

[RichardG · Accepted solution]

The sale should not be reported on your tax return.   Instead, the sale is reported on the income tax return for the estate.  Estate income tax returns are prepared with a separate Windows desktop program, TurboTax Business

If you are the person responsible for preparing the estate return, you should know the estate's basis in the property is the fair market value of the home on the date of death.  If the home was sold relatively soon after death, usually there is no gain on the sale, and often a loss due to sales costs.