Tax liability for life estate after death

[Paul2005]

My dads house was put into a life estate in 2001 with myself and 2 other siblings added to the deed. He recently passed away in July 2022 and we eventually sold the home in June 2023. The net proceeds were split 3 ways and I got a 1099S showing my portion of the gross proceeds without expenses. I'm not sure about any capital gains that need to be reported, but I assume it will be from time of death to actual sale. My question is how can I have turbo tax calculate my 1/3 capital gain tax liability and what should be used for the value at time of death. I got an estimate at the time pf death and I assume my siblings need to use the same estimate amount for their own taxes. Also, need to know how to divide or account for expenses to prepare and sell the home such as real estate commissions, maintenance and remodeling.

Thanks

[M-MTax]

Your basis is the FMV at the time of your father's death and you can divide everything by a third. 

Sorry for your loss.

[MarilynG1]

Add your portion of Sales Expenses to your portion of  Cost Basis, and subtract from your portion of Sales Proceeds to see your Capital Gain.  

Here's How to Enter Sale of Second Home, Inherited Home or Land and some info on How Capital Gains are Taxed.  

@Paul2005