Husband owned real estate property in his sole name overseas (vacation home).
Husband died in 2023
Wife inherited the house via the US Will
US Will had to be probated overseas; probate received in November 2023
House put on the market in December 2023
House sale completed July 2024
Title of the house was not transferred to spouse; house was sold via the estate
House was not primary residence of husband and/or wife. It was a vacation home.
Total estate was well beneath the amount required for a 706 Estate tax return!
Form 1041 (initial) was submitted to IRS for 2023 tax year as there was wage/vacation pay income to the estate, but no other income.
How does surviving spouse report the sale of the property? No 1099-s issued as the property is overseas. Just a completion statement from the overseas attorney.
