1099-s form

Terry Says

A 1099S form is used to report the proceeds of the sale of real estate. You need to consult a CPA, because a lot depends on how the house was titled at the time it was sold. If it was sold immediately after death, you should get a “step up” in cost basis to the value on date of death. So no taxes would be due. Again, it’s important to do this right — and in conjunction with what other family members are doing. Don’t just go to a tax preparer — for this year anyway, get a CPA.