Can both beneficiaries claim half of the proceeds and taxes on the sale of a house that was inherited.

[cmeste069]

I wanted to know if me and my sister can split the taxes paid and the proceeds recieved from an inheritance property on our taxes. 

[Coleen3 · Accepted solution]

Yes, if you both inherited the property, then your should share the basis and sales price on your individual returns to accurately reflect the gain.

[cmeste069]

Thank you. It truly was helpful.