Thanks for answering my question. Just want to confirm your statement below. So if I determine my cost basis to be $170K and I sold the house for $250K do I only report the sale for half of the house ($125K)? A loss in this case
I received a check for the sale and wrote a check to each of my siblings from my account does that change anything?
"Once you determine the cost basis for yourself you will report the sale for your half of the house."
