mother's estate-LB

[booboo4]

My mother passed early 2010. I was the executor. She had a small home sold for 77000 6 mos after death. Per title company, the transaction was not sent for a 1099-s. The proceeds were split up among the children. Do I have to report this transaction anywhere on my personal tax form since I was the executor and the initial check from the title company was made out to me? Obviously, this was not my primary residence. I have no evidence of value increase for the 6 months between her death and the subsequent sale. The lawyer for the estate said no further action warranted(not sure I trust him). Please advise. Thank you. 

[ToddL99]

You do not need to report this transaction on your federal tax return. There is no federal inheritance tax.

Also, a sale within 6 months of your mother's passing would be presumed to be for FMV at the time of her passing.

Depending on your state and the location of the property, however, there may be a state inheritance tax.

According to Is Your Inheritance Subject to State Taxes?:

"The U.S. states that collect an inheritance tax as of 2020 are Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Each has its own laws dictating who is exempt from the tax, who will have to pay it, and how much they'll have to pay."

And, our sincere condolences on the loss of your mother.