Both parents passed within one year, last one in January 2022. As representative of the estate, I have already sold their home and all assets have been disposed of, with all proceeds from sale divided equally between siblings. Total Assets were less than $400,000.00
Parents had not been required to file income taxes for over 4 years as they had no income other than social security.
I don’t think the estate would need to file a return since there was no capital gain on the sale of the home, is that correct?
Would there be any form to file for the disbursements to the siblings?
I have searched the IRS website but seems there is nothing required since the estate was so small.
