A court settlement was received for a inherited land sale. The estate has been in dispute for over twenty years and finally has settled. A 1099 has not been received for the settlement from the court or the attorney's involved. How/where do I report the settlement which is a long term gain less the basis from the original value of the land at the date of death? Are any of the court and attorney costs deductible? How do I show the basis? The settlement was shared between siblings and equal checks were mailed to each but the siblings had an agreement that one would receive more money from the settlement than the other. How do we show that on the tax return or do we settle that portion on a net tax basis. H
