How much do I pay to IRS on house and stocks sold?
I am filing for a federal tax extension, and need to know how much money to send in with the extension form.
My mother died in Dec 2007, and I inherited her assets which were in a living trust, as successor trustee. After much work, I sold her house in May 2008 for $169,000. The house value depreciated approximately $5,000 during this time. I also sold $17,000 of stock to pay her the remainder of her nursing home bills. I quit my job to take care of my family and the estate, and therefore paid no federal income tax in 2008. I donated $5500 to charity, and met the 3,500 deductible for medical expenses.
My question is how much money, if any do I send in with my request for federal tax extension?
Thanks so much for your help.;)