I'm new, so Hello.
Dad died in 1999 and had assets in family trust, including house. all inherited property between myself and two sisters. Provision that oldest sister to live in house as long as she wanted. She moved out in 2009 and property sold.

Now cost basis of house on day dad died ( tax record) of $145,000. House sold in 2009 for $190,000. Now since it was no tax issue account of inheritence being under 3 million? the taxes owed would be $45,000 divided by 3. ( 190,000 - 145,000 = 45,000) So my share of taxes would be 1/3 of the difference between what it was valued at in 1999 at time of dad's death and the time we sold it 2009 ( 1/3 of 45,000) ( right ?). Now that's pretty simple on schedule D.

Now here's where I get confused, in the legal papers there's a brokerage fee of $9,500, expenses of $200. for required smoke alarms, a fee to lawyer of $750. and a settlement charge to seller of $1,102.

So are any of these charges deductable ? Am I entitled to take 1/3 of these off and if so where do I show it, what form??? Is this also considered a long term capital gain

Any help appreciated------YPR ( Your Pal Rateye )