Our parents completed a Quit-Claim Deed to us in 2008 with a Life Estate for them. How do we account for that sale after the last parent passes away (1099-S)?
Our parents completed a Quit-Claim Deed to us in 2008 with a Life Estate for them. How do we account for that sale after the last parent passes away (1099-S)?
There is not an entry screen specifically for a 1099-S, but you enter the information in the investment sales section. The link below has instructions - See the Other Real Estate links below Main Home for a second home, inherited home, or land.