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Loss allowed on sale of life estate house?

Colmatt
Level 4

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 Replies 3
sjrcpa
Level 15

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

 


ex-AllStar
Colmatt
Level 4

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

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Colmatt
Level 4

Nobody lived there.  Thanks for helping me

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