My parents had their house and put my oldest brother on the deed in case anything happened to them. I was too young and a minor at the time this took place so I was never added to the deed. Once our father passed away, my oldest brother became full owner. We decided to sell last year and my oldest brother added me to the deed on 05/16/2022 so that I could get half of the money and we sold the house on 06/01/2022. I only got a 1099-S with Gross proceeds of $200,000. I am not sure if this would be considered a long term or short term transaction? Not sure how I would go about in reporting this on my tax returns.
