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When you report your basis in the property, you will not report the full amount.
The basis of the total property is $13,300. The basis in your "portion" of the property is 1/8 of $13,300 or $1,662.50. (1/2 of the basis is claimed by your uncle, and the other 1/2 of the basis is split in 4 between you and your siblings).
When you report your basis in the property, you will not report the full amount.
The basis of the total property is $13,300. The basis in your "portion" of the property is 1/8 of $13,300 or $1,662.50. (1/2 of the basis is claimed by your uncle, and the other 1/2 of the basis is split in 4 between you and your siblings).
What Form or Section of turbotax Premier do I use.
WHERE DO I REPORT WILLED PRPERTY SALE
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