Four of us inherited mom's house when she passed. FMV was $200,000, and that's what we sold it for. Do I claim FMV for my share, or the entire amount?

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Four of us inherited mom's house when she passed. FMV was $200,000, and that's what we sold it for. Do I claim FMV for my share, or the entire amount?

Assuming your siblings are each claiming their own portions, you should claim your 50,000 dollar portion of the sales proceeds and inherited cost basis.

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Four of us inherited mom's house when she passed. FMV was $200,000, and that's what we sold it for. Do I claim FMV for my share, or the entire amount?

Assuming your siblings are each claiming their own portions, you should claim your 50,000 dollar portion of the sales proceeds and inherited cost basis.