EleanoreS
Employee Tax Expert

Get your taxes done using TurboTax

@bayray31 Good afternoon.  I am sorry for your loss of your brother.  If his taxable income is below the 2022 filing threshold of $12,950 for a single taxpayer under age 65 who is not blind, a return does not have to be filed. If your brother was over age 65 or blind, the filing threshold would be higher. TurboTax has a great article with more information about filing requirements .

 

As to the house.  The purchase price does not come into consideration.  The house receives an increased; "stepped-up" basis to the value on the date of death.  In most cases; when the house is sold in a short time after death the gain is very small if any at all.  

 

This TurboTax Article about the death of a family member  will provide a lot of useful information.

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