@mgawro01 wrote:
"Once you determine the cost basis for yourself you will report the sale for your half of the house."
Sorry, that's wrong. Title to the house did not pass via the will; title, as a remainderman, passed to you (in fee simple) outside of the will.
The form of the deed overrides whatever is stated in the will and title passes by operation of law according to what is stated in the deed.
Technically, you were entitled to retain the entire amount of the proceeds from the sale (the house was yours). If you split any of the proceeds with your siblings, that would be a gift from you to them.
Also, note that after your Mom passed, your Dad most likely owned the property in severalty (i.e. fee simple by himself) since, presumably, your Mom and Dad held title as JTWROS. As a result, after your Dad added you as a remainderman of his life estate (on the deed) and then passed, your basis was stepped up to the fair market value of the property on the date of his passing.
