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Get your taxes done using TurboTax
Perhaps, but did the executor inherit the entire home? If it was sold as part of the estate, and distribution was done before the estate closed, it should be reported on the estate return. If the executor took possession of the property and sold it after the estate was closed, then they may owe on capital gains, but that would have been a mistake. They would have to report the income, and the distribution would not be inheritance, but gifts. Which may screw up the recipients. It almost sounds like they didn't use an attorney for the estate.
‎April 4, 2022
8:13 AM