cr1986
Oct 14, 2011, 11:50 AM
5 of us inherited our parents home,no mortgage, the tax value was @119,000 at time of death in 2007. We sold the home in September 2011 for 90,000 and there were 6492.67 selling expenses which were deducted before money was distributed. The remaining $83507.53 was distributed, Each sibling received check for 16701.47. I know there is a loss on the home, and we can show up to 3000 this year as long term on schedule D. Can you please inform me as to which forms I would report all on. And how will I determine which forms to use. Thanks and have a good day. Sbc1109