Land Quitclaim and Associated funds

[KeenanL]

My question is this-

My family has land in Oklahoma, which was in my sister’s name.  The land was leased to tenants for farming, and all rent was deposited into a CD in her name (the land and associated rent go into a “rainy day fund” for our family).  Last year, the house on the property caught fire and was declared a loss for ~$27K.

Recently, she quitclaimed the land for me to manage, as well as the cash associated with it (the $27k from insurance that was filed before I took possession of the property, and $11k from a closed out CD that was used to deposit the rent from the property). I’m having trouble getting started on how to address these large cash deposits when I file. Any advice would be greatly appreciated!

[Critter-3]

My advice is to seek local professional assistance since this situation spans over more than one person's return and from what you posted the prior year returns may not have been filed correctly to report the rental income.