My brother-in-law was on a house deed with his mother for many years. She then transferred it to him and my wife for $99 in 2001. They sold the house in 2018. What to do?

[KrisD]

Your wife and the brother-in-law will each report their share of the sale. The basis is $99 plus any improvements made. Any amount of the sale price over that will be capital gains. If it was used as a rental, depreciation will also need to be recaptured.