Sale of Realestate

[RLymanC]

Brothers inherited a house, FMV at death 145,000.
One brother has lived in the house, other brother sold his half to brother for 240,000.

Not counting other expenses that could increase basis, there is $167,500 CapGain.
Does the sale go on Sch.D or 4797. It was never a rental, my guess is Sch.D with no
Sec. 121 exclusion. Thanks for your time. Bob

[jimmcg]

Sale of Real Estate

Absent other facts if not the sale of business property, as in property used in a trade or business or subject to depreciation, it should be reported on S-D