My wife and her sister inherited a rental property with a step up in basis at the time of death. After a couple year court battle my wife Quit claim deeded the property to her sister for $0 as part of the broader settlement. I recoreded 50% of the rental income for 2022 but my wife no longer owns the property. How do I record that we no longer have the property and remove the property from taxes. The property has since been sold by sister.
