My brother and I inherited our family home after mom passed away in 2013. Both names were on quit claim deed (50/50). I took my name off deed in 2020 to leave home exclusively in brothers name. He became terminally ill in December 2022 and signed quit claim deed back to both myself and his ex-wife (50/50) at that time. He passed away in July of 2023 and we subsequently sold the house last October for $155,000. SEV in 2013 was $20,000 and $44,900 in 2022 per township records.
It was suggested that I need to claim 50% from when mom died and home was inherited, and then 25% when home was gifted prior to brothers death.
Any ideas how/where to enter this as capital gains? Thanks so much!
