Property left to my Husband and his brother is going to be sold.. my husbands brother has lived on this property with his wife for almost 20 years.. most likely the property sale will be split 50/50.. property is located in Pa.. we live in Md.. any info or advice would be appreciated

You need to determine the value of the property at the time it was inherited. This becomes the cost basis for the property.

Whatever the property is sold for over and above the cost basis becomes the capital gains. However, since the brother used this property as his primary residence, his share of the profit will be treated differently from your husband's.

Run, don't walk, to a local CPA or enrolled agent for advice on this issue, as it is MUCH TOO COMPLICATED to address on this forum.

Scott's advice on costs basis is accurate, but the brother's treatment of the sale MAY or MAY NOT qualify for the primary home exemption. It depends on WHEN the decedent died and HOW title was transferred from the estate to the heirs.

And that is ONLY ONE variable to consider! There are several others.

Like I said, you need to pay the $300-$500 a CPA will charge you for a consult and get competent professional tax advice on this issue.