1099-S

Forum|Forum|3 months ago
March 22, 2026
2 replies
10 views

Working to complete and tax return and first time receiving 1099-S. Client received form from inherited property of deceased parent that was sold and proceeds were split among 5 siblings. Client had selling costs and capital improvements to account for as well paid from total proceeds. Proseries does not have built in form that I expected to see and utilize. When searching "Where Do I Enter?", it brings up several 1099-S options to choose from so I selected 1099-S, Form 1099B Worksheet. Then it took me to Capital Asset Sales Worksheet which has Form 8949 built into it. Entered proceeds but still unsure where to put total for selling costs and capital improvements. Any guidance would be greatly appreciated.

ProSeries Professional

Just-Lisa-Now-

Intuit Community Champion

Just use Sch D, Asset Sales Worksheet, like a stock sale, in Gross Proceeds enter the 1099S amount, in the Basis box enter the FMV at the date of death and add any closing costs to it (I usually hit the little button to make sub entries and break out the FMV and costs in case I want to see whats in the basis), when you enter the date acquired, type INHERITED and it will automatically make it long term.

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