Legal Question in Real Estate Law in Delaware

sale of deceased dad's condo

Hello,

My father bought a vacation condo in florida for 165,000 in feb 2005. He passed in Dec 2005. He lived in NY. We finally sold it in March 2008 for 120,000. Can my brother, sister and i take that loss on our taxes divided 3 ways? I live in Delaware and they both live in NY. Any info would be extremely helpful. Thank you.


Asked on 12/08/08, 1:14 pm

1 Answer from Attorneys
Edward Pankowski Edward Pankowski, Jr. Esq

Re: sale of deceased dad's condo

If dad and now his estate incurred $45k loss, loss is estate's to claim. You should file form 1041 in estate name to claim % of loss My CPA is Michael Baffone, same address, Ed Pankowski

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Answered on 12/08/08, 3:20 pm


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