imjulier Posted March 24, 2011 Report Share Posted March 24, 2011 Looking to report 1099-s for client that inheritied property when mother died in 2005. No appraisal in 2005 and its in small-town Ohio. We're figuring no g/l since 2005 becasue we don't really know. Nephew lived in house at time of mother's death and continued to live there for free until he purchased the property in 2010 resulting in the 1099-s. It wasn't really investment property because they weren't renting it and its not really a second home....how should I show this. Thanks in advance for any thoughts. Julie Quote Link to comment Share on other sites More sharing options...
Jim Oh Bkkr Posted March 24, 2011 Report Share Posted March 24, 2011 Your county auditor may have a web site with past valuations. Mine (Lawrence) does as does Franklin. Jim Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 24, 2011 Report Share Posted March 24, 2011 Looking to report 1099-s for client that inheritied property when mother died in 2005. No appraisal in 2005 and its in small-town Ohio. We're figuring no g/l since 2005 becasue we don't really know. Nephew lived in house at time of mother's death and continued to live there for free until he purchased the property in 2010 resulting in the 1099-s. It wasn't really investment property because they weren't renting it and its not really a second home....how should I show this. Thanks in advance for any thoughts. Julie Don't they show a FMV on the Property Tax Bill? I would just use that. Sch D Inherited House FMV Sold 2010 FMV This is a long term wash sale. IMO Quote Link to comment Share on other sites More sharing options...
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