Deductions & credits

If you did not live there, then you owe short term capital gains tax (if you owned less than 1 year and did not inherit) or long term capital gains tax (if you owned more than one year or inherited.)

But, I don't know what you mean by "profit."  You owe tax on the gain, which may not have anything to do with the amount of cash you received.

Your gain is the difference between your sales proceeds and the cost basis.  You need to determine those numbers for the whole house, then if you were an equal share owner (25%) you would report 25% of the sales proceeds, 25% of the cost basis, and pay tax on 25% of the gain.

For sales proceeds, take the selling price and subtract any taxes, legal fees and real estate commission.  You can't subtract repairs or staging expenses.

For cost basis, take the price you and the other owners paid for the home, subtract any depreciation you claimed or could have claimed for business use of the home (such as home office or rental property), and add the cost of any permanent improvements (like a new roof).  If you inherited the home, your starting cost basis is the fair market value on the date of the previous owners death.  If the home was gifted to you by a relative (such as a parent gifting the home to 4 siblings) then your starting cost basis is the price the previous owner originally paid, even if it was a long time ago.  You may be able to track down old sales records at the county clerk's office.  Remember that in case you are audited, the IRS does not have to give you any cost basis you can't prove, so be diligent about documenting your cost basis.

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