You and brother each report the sale, with each one reporting half the proceeds. Your cost basis is the value of the value of he house on the day of your mother's death, plus any improvements you made since then.. To report in TurboTax Online:
- Click on Search and type "Sale of second home"
- Click on "Jump to
sale of second home"
- If you've already entered some investment sales, click on "+ Add More Sales" otherwise,
- Follow the step-by-step interview to report your sale.