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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6176
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I have just been issued a 1099 form sale of my mother's

Customer Question

I have just been issued a 1099 form for the sale of my mother's house. There were three heirs, we all received a check from the proceeds in the same amount. I was the executrix, so I signed most of the closing papers. My 1099 reflects all of the proceeds. Is this counted as income? I received help from the Healthcare Marketplace for part of my insurance premiums. Will this money be counted as income for me and cause me to owe the IRS back my assistance?
Submitted: 11 months ago.
Category: Tax
Expert:  Stephen G. replied 11 months ago.

First of all, no don't worry about that.

Is the Form a 1099-S? Is your Social Security Number listed on the 1099-S or was it a different number? If so whose number is ***** it? (Possibly an ID number you obtained for the estate or your mother's Social Security Number?)

When did your mother die; ie. what was the date of death?

Was she a resident of North Carolina?

What is the date you sold the property?

What is the gross proceeds that is reported on the 1099-S?

If you answer these questions I can tell you how to deal with this on your tax returns.

Expert:  Stephen G. replied 11 months ago.

Do you have this information? If so & you are able to answer my questions, I can respond to your questions.

Expert:  Stephen G. replied 11 months ago.

Just checking in to see if I can assist you further.

I see that you have had a chance to view my last series of comments.

Are you having a problem with our "star rating system" (it happens)? If so, you may just indicate your rating in words (ie. 5 stars, 4 stars, etc.) and then I may obtain credit for my efforts from Customer Service. Otherwise, I do not receive anything for my work with you, as we are only compensated for questions accepted by customers.

Thanks very much, Steve G.

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