I had inherited a property in Canada in mid 2024 (that was a principle residence from my mother before she passed away). It was 25% of the property, whereas my other siblings owning the rest of the 75%. When the estate was approved in mid 2024, I paid / purchased the other 75% from my siblings, making me the sole owner for this property now.
The property is being hold and being prep for rental in Canada. No rental income for CY2024.
Question: is there anything that I need to declare to IRS about this inherited property (25% from inheritance) for CY2024? If so, which form? Thank you.
