8Xbehabob
Returning Member

Deductions & credits

My brother and I inherited my mother's house and the rental house next door that she owned last year when she died.  She had deeded both properties to us in 2007 after our father died, retaining a life estate in them.   We sold both properties last year and received a 1099-S for both of them.  How do we claim this on our 2020 returns?