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Level 3
February 9, 2020

Sale of Inherited house

  • February 9, 2020
  • 1 reply
  • 10 views

Mom created a property trust for her main home in California and makes Daughter the recipient, who lives in Georgia. Mom dies in Oct 2016, Daughter sells the home in February 2017 and receives a 1099S. The home was not the main home of the Daughter as she lives in Georgia. Do I complete the Sale of Home worksheet or do I record the sell of the inherit home on Schedule D? The Daughter has been audited by the State of California for not reporting the sale of the home. Also, do I file a trust return for the Property trust? 

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    1 reply

    Just-Lisa-Now-
    Intuit Community Champion
    February 9, 2020

    Does the 1099S have the daughters SSN on it or the Trust EIN on it?

    If its in the daughters SSN (which it sounds like it is since CA is all over her about it), you'll record it on Sch D.  ProSeries professional makes it easy to find where to record it

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    jsoles24Author
    Level 3
    February 9, 2020

    Hi Lisa,

    The 1099S was issued to the daughter with her SSN and not the property trust. Thank you so much

    Jennifer