Strange situation. My grandfather moved into assisted living. For some reason this executed his will early, which would paid out to my father and his brother. However, my father passed away a couple of years before that. 1/3 of 45% of the income went to me, the other 2/3 to my brothers, 45 percent to my uncle and 10 percent to my still alive grandfather.

This sounds like a filing nightmare and I have no idea how to claim it on taxes. I have received a 1099-S with my portion of the proceeds, but I don't know what to do from here.

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Originally Posted by bdroc

Strange situation. My grandfather moved into assisted living. For some reason this executed his will early, which would paid out to my father and his brother. However, my father passed away a couple of years before that. 1/3 of 45% of the income went to me, the other 2/3 to my brothers, 45 percent to my uncle and 10 percent to my still alive grandfather.

This sounds like a filing nightmare and I have no idea how to claim it on taxes. I have received a 1099-S with my portion of the proceeds, but I don't know what to do from here.

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Wait a minute - a Will doesn't become binding until the person dies. Are you saying your Grandfather moved into an assisted living facility and the family began to divide up his assets according to his Will BEFORE he died. Impossible and illegal.

Either you have your terminology wrong or something very strange is going on.

All of this aside - if you got a 1099 you post that income on your income tax returns. What is the confusion? What anyone else got or didn't get or the fact that your father is deceased is meaningless.

Who prepared the 1099? Are you sure this is a will and not a trust?

This is really a LEGAL question, not a tax question.

That said, I tend to agree with ma0641; this sounds like a trust being a distributed.