Question
Sale on inheritance home and split between siblings taxable?
Hi,
A friend's sibling passed away in 2022. The property the deceased own left the home to her 5 siblings. The main person in charged, my friend received instructions on how much percentage each sibling will receive if they sell the home.
My friend received a 1099-S for the estate that was sold. Do each person claim the portion of the sale as a capital gain?
