Report the sale of the property as an investment sale for which you did not get a 1099-B, in the same place that you would report a sale of stock. In the Search box type "sold second home" (without the quotes), then click the link that says "Jump to sold second home."
When you get to entering the details of the sale, for the description enter "Inherited house." Enter the date sold, date acquired, proceeds, and basis. For the date acquired enter "Inherited."
Your basis is the fair market value on the date of your brother's death, plus what you paid for the renovations, but not what your brother paid before he died. Do not include what you paid for taxes, utilities, and insurance. You use the value on the date of your brother's death, even though title was not transferred to you until later.
For the holding period select "Long term (Box F)." A sale of inherited property is always long-term, no matter how long you or your brother actually owned it.
