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If you claim the appraisal, the trust may have a deductible loss? However, if you are audited, unless something material happened in those 100 days to the house or the local real estate market to affect the value, I suspect the IRS position would be that the sales price was the true FMV.
If you claim the appraisal, the trust may have a deductible loss? However, if you are audited, unless something material happened in those 100 days to the house or the local real estate market to affect the value, I suspect the IRS position would be that the sales price was the true FMV.
my brother and I inherited mothers house in a trust appraised for $260,000. Sold for $260,000. I received half of sales price commission paid out of trust
I don't necessarily want to claim expenses. I just don't understand how to use the program. I need to do an amended return>
I need to know how to use the program to file amended return I don't understand how to use the program to file 1099-S
APPRAISAL VALUE
@bobalv WHO sold the home? You or the Trust ? Whose name & SS# or EIN is on that 1099-S form?
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