Ok, however in this case my brother, the Successor Trustee, sold the house and then after closing costs he split the money and paid me my half. That was in 2022. The house was appraised at time of my father's passing at $510,000 and it was sold at $551,000, but after losing costs and fees etc the net was $515,000 that we split, so as I understand it we each split that capital gains of $5,000 at $2,500 each. However he just emailed me and stated two amounts he paid for federal and state tax on the house sale and think he means he just paid all the capital gains taxes on that $5,000. Can he do that and does that mean I do not need to report anything at all? it seems weird I would not need to report anything or still report some kind of K-1 but other people seem to think I am ok too.
