pk
Level 15
Level 15

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@fkhalilz , both  line 55 and 56 are a  NO  for you , ---- the bank wiring  monies to you is not the owner of the amounts -- it was acting on behalf of the executor  of the Estate of your father.

 

Note  that based  on your reply,   (a) your father passed away on xx/xx/2022 and so the questions becomes  if the  property was  held by his estate till sale completion  OR was the property was then transferred to  joint ownership (  you along with the other  inheritors ) and then sold  .  If that is so then you have to consider this as a sale by you  and reported on form 8949 / Schedule-D --- your  sales price   and basis  are each as a share  ( e.g  if three siblings/ inheritors then Sales  price is 1/4 of the final sales price  , less selling expenses and   your  BASIS1/4 th of the total  FMV of asset at the time of demise of the decedent ).

 

Does this make sense ?   Is there more I can do for you ?

 

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