My mom passed away in March with a life estate on her home. Upon her death, it went to me. It was sold within 1 month. So the cost basis (stepped up basis) is the value at time of death less some closing costs resulting a loss. I believe I can take the loss up to $3000 on 2019 taxes. I will be getting a 1099 from the closing company. Do I just put the transaction on the Schedule D with the following info:
date acquired and sold
basis and adjusted sale price
loss
thanks
