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Y
Young-TP
Level 4
April 6, 2022
Question

Client received a 1099 S for her part of inheritance of the sale of a farm. Where is this reported?

  • April 6, 2022
  • 2 replies
  • 12 views

Not sure where to start entering so it flows to the correct forms.

This topic has been closed for replies.

2 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 6, 2022

Sch D.   Use the 1099B worksheet quickzoom button at the top of Sch D, scroll down past the brokerage info at the top and use the entry lines below.  

The entries there will flow to the 8949.  Use Inherited as the acquired date that will automatically make it long term.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    PATAX
    PATAX
    Level 12
    April 7, 2022

    Also I think there is a box on the worksheet to check to indicate it wasn't reported on a 1099-b. Just my opinion.

    BobKamman
    BobKamman
    Level 15
    April 7, 2022

    Her cost basis is the value at date of death.  You haven't told us when that was.  If it was inherited 10 years ago and she has been receiving farm income since then, the sale might go on Form 4797.  

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