[r3a1ist]

I, being the family here and also a U.S. citizen, need to know if there are any tax's that can be expected of me or forms that I may need to file. Amount will be just over 100,000 dollars.

[MukatA]

A U.S. citizen or resident must report worldwide income even when he or she does not live in the U.S. If your total worldwide income exceeds the filing requirement, a U.S. citizen or resident must file your U.S. tax return. If you paid taxes in the foreign country, you will claim credit for taxes paid in the foreign country by filing Form 1116 or can file form 2555 Foreign Earned Income Exclusion.
Another filing requirement is Form TD F 90-22.1. Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income

So you must report the sale of property on schedule D (except if it is your main home and you are eligible to exclude the gain of up to $250,000). You will also file Form 1116 to claim credit for taxes paid in the foreign country.

[ebaines]

One other point, regarding sending the money to your family: that sounds like a gift to me. Assuming that it amounts to more than $13K to any one individual, you will have to file a gift tax return (form 709) with the IRS. In all likelihood no actual tax is due, but by filing a gift tax return you are documenting that you are using up some of your lifetime exclusion for gift and estate taxes.

The gift tax form is here: http://www.irs.gov/pub/irs-pdf/f709.pdf