George4Tacks
Level 15
12-06-2019
11:02 PM
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The 1099S depends on the amount and how the paperwork was filed. "sold at a loss" even if you take into consideration the the quit claim gives the basis of the home in the hands of the father? I would go ahead and file a return for each of the people showing the sale of the home. Indicate no 1099B was received. It sounds like it would be a personal loss and not a capital loss (if it really was a loss) and not deductible. If it is a gain it would be a long term gain. You need to possibly get more information.
Answers are easy. Questions are hard!