we received from a cpa from my wife my question is when i enter the k1 form on my amended tax return it says we owe 7k plus on 14,475 but cpa says it would be $2,188 (The total gain reported is $43,773. That is calculated from the sale of $274,000 - $211,000 basis at time of death - $1,500 repairs you indicated - $16,440
realtor commissions paid = $45,060. Then subtract
the legal and accounting fees from the invoices which equals $1,287, gets you to $43,773. Each beneficiary is receiving a third of that gain on their respective K-1. At a 15% long-term capital gain rate, that is about $2,188 in federal tax per beneficiary)
