I have a question concerning the sale of a second home and figuring the cost basis when there is more than one owner. My wife’s mother gifted her home to her seven children in 2010 the home and land were worth $118,100.00 at that time. The house was sold by my wife and her siblings, in June 2021 for $110,000.00. My wife’s proceeds received from the sale was $15615.96
