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    Loss allowed on sale of life estate house?

    Colmatt
    Level 5
    ‎03-17-2021 08:38 AM

    House in life estate, parent passed away and child sold 1 year later after fixing up for sale. There was a loss.  On to schedule D or is no loss allowed?

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    3 Comments 3
    sjrcpa
    Level 15
    ‎03-17-2021 10:08 AM

    Was anyone living in it between date of parent's death and date of sale?

     

    The more I know, the more I don't know.
    Colmatt
    Level 5
    ‎03-17-2021 10:17 AM

    I do not believe so but I will check.  If someone did it was the grandson.  

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    Colmatt
    Level 5
    ‎03-17-2021 07:19 PM

    Nobody lived there.  Thanks for helping me

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