Capital Gains On Inheritance?
My father inlaw passed away and the 3 kids sold the house and received 15,000 after all loans and debts were payed off. How do we claim this? We did get a 1099S. Do we need to pay capital gains on the whole 15,000? Thank you for your time.
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inheritance
Originally Posted by ginacarlisle: |
This is not our home or residents. We aquired the home upon my father-inlaws death. Does this still apply?
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inheritance
Originally Posted by ginacarlisle: You still don't owe taxes on this. |
We got a 1099 from the buyers lawyer saying we made $150,000 but we did not get anything from our lawyer after we payed of 2nd mortgage we made 15,000 how and where do I claim this? Thank you
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home sale
Originally Posted by ginacarlisle: |
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