Get your taxes done using TurboTax

That is a great question.

 

Who's account were the assets sold?  Your mom or your account?

 

All assets sold from inheritance are considered Long-Term Assets.

 

If you sold the assets within her account, that gain or loss is reported on her tax return.

 

If you were distributed the assets and they were sold, it would appear on yours and your brother.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"