My father and I were joint owners on a home when he passed away in October 2019.
I purchased the house in 2000 for $179K and I lived in it from 2000-2012 and moved overseas with the Military.
I refinanced and added my father to the title and mortgage in 2012 and he lived in the home until he passed in 2019. He made payments on the home during that time and claimed the home on his taxes.
When he passed the mortgage was $90K, which I picked up paying. I put $20K into the house for repairs and upgrades and sold the home in July 2020 for $375K with $60K payoff of mortgage and $20K in closing costs.
Can someone help me calculate capital gain that I need to claim in Schedule D?
Thanks in advance
