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If a family sells property, acreage with no improvements on it, and three children are going to split the proceeds, what IRS form needs to be filled out and delivered to the three and to the IRS?

How will be/was the title of the property held at the time of the sale of the property? Is it still in the name of the estate or has it been re-titled and is/was held in the name of the 3 children?

The answer is that eventually it will probably need to be reported on Schedule D, but how it gets there could be different, depending on how the title is/was held at the time of the sale.

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