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Sale of inherited house in New Mexico

Colmatt
Level 5

Received 1099-S for inherited home sale.  I understand it is a long term asset sale and in this case a loss after closing costs taken into account.  I have entered it directly on schedule D which flows to form 8949.  Nowhere does it let me note it was a 1099-S.  Am I missing something in the program or does it not matter?

Client is in CT. Do we need to file a NM - Nonresident return for the sale?

 

Thank you and please correct me if I'm wrong.  

 

 

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sjrcpa
Level 15

"Nowhere does it let me note it was a 1099-S"

It doesn't matter.

 

New Mexico will probably want a tax return showing the gross proceeds from the 1099-S. Read the NM instructions under Who Must File.


Ex-AllStar

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1 Comment 1
sjrcpa
Level 15

"Nowhere does it let me note it was a 1099-S"

It doesn't matter.

 

New Mexico will probably want a tax return showing the gross proceeds from the 1099-S. Read the NM instructions under Who Must File.


Ex-AllStar