To retierate
@Hal_Al 's point, the house cannot have been used as the personal residence of any of the remaindermen if you desire to use the fact that in that case the house, after your father's death, was characterized as "investment property" on which you would claim a loss [or a gain]. As to gain, for any casual reader, it is important to recognize that the remaindermen cannot claim the $250,000/$500,000 exclusion of gain.
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