My son passed away June 2023. He had a sole proprietorship business. He had a Jeep for business and personal use. His dad was a cosigner on his loan. His dad took possession of it and sold it back to the dealership. They paid off the existing loan and the remaining $11,756.38 was paid out to his dad. His dad used those funds towards my son's funeral expenses. How do I report it on my son's 2023 federal taxes (under sales price & expense of sale)? I did select the stop using this vehicle in 2023 within the vehicle summary.
Thank you!
