DianeC958
Expert Alumni

Deductions & credits

The best option is to find an appraiser who has been in business for a while.  They can give you an appraisal for the property of its value as of 2016.

 

As long as you inherited the property once your grandmother died this is the basis you would use to report on your tax return. 

 

You also deduct the amount of the sale that was received by your sibling to arrive at the amount for your tax return.

 

Link to Death in the Family

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