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Reporting Sale of Inherited house
Upon the death of my mother in 2010 I inherited 1/4 interest in her home. My sibliings and I sold the home AT A LOSS in 2013. Do I report the sale? None of us ever lived in the house however another relative did live there rent free until the house was sold. This relative was not a beneficiary in my mother's will we just let them live in the house. I KNOW if I had a gain I would have to report the sale but I am uncertain as to whether I can take the loss.
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