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Retirement tax questions
We inherited the rental property 4 years ago and have been recognizing P&L over that time. There is a $60,000 total capital loss and my sister will want her share. If I enter the full amount of 1099-s on my tax forms then I will show a large capital gain based on my 50% cost basis
I seem to be a nominee recipient for my sister's half so can't I file a 1099-s and 1096 with IRS for her share? Then just file my taxes based on my 50% share.
‎February 28, 2021
5:16 PM