M-MTax
Level 12

Business & farm

Not sure what you're asking.

 

You report the sale on Form 1041. You know your selling price less selling expenses (or should) and you now only need to subtract the basis from that net sales price to determine whether there is a gain or loss. Note that the basis would be the fair market value on the date of death.

 

You can pass through a gain or loss on the sale of the home on the final 1041 to the beneficiaries.