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Is this inheritance? Father-in-law passed '19. Sold home '20. Husband & step-sibs equal split proceeds. Husband no 1099 b/c not a seller. Do we report proceeds received?
My husband's father passed in 2019. He had been living in his wife's home who passed in 2009. The home is in my husband's step-sibling's names. We sold the home in 2020. My husband's step-siblings included him in an equal 1/3 split of the proceeds from the sale of the home. My husband did not receive a 1099 at closing because he is not a listed seller. How do we report the proceeds we received? Is this considered an inheritance?
‎April 1, 2021
7:32 AM