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H&R Block, Inc. Message Board

  • berkeleyfarms berkeleyfarms Mar 6, 2003 11:46 AM Flag

    1041 income ??

    Query-whether a sale of personal residence of a deedent is inome to the estate.

    My client is the executor of an estate which has no assets other than the home of the decedent. Under court order the executor sold the home and will distribute the proeeds to the heirs. The home sold within a few months of the death of the decedent. Should the executor file a 104l listing the sale proceeds as income>??. There is probably no capital gain, since the fair market value on the date of death is close to the sales price.

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