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Tax question regarding sale of inherited property...
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Greetings! My brother was the successor trustee/executor of my mother's estate. She died in 2003 He agreed to split the sale of a FL property between the 4 siblings in exchange for the cash bequests left to the other 3. Property sold in 2008 - was rental business prior to my mother's death,...
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My mother passed away in Nov of 2006 and left her home that was in trust to myself and my two sisters. We sold the property in mid 2007. Is there any tax owed on the sale of the home? The house was in trust, so don't know why there would be. But read on IRS site that we must fine the basis of the... View more questions Search
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