Question

Mother died 2023 house valued at $469K at time of death. Sold it in 2024 for $519K. Check was issued to the estate for $475,717.01 divided by 4 heirs. How do I claim?

$43282.99 was deducted from sales price for taxes, fees, title, commissions etc..

The estate would pay the tax on the gain (if any).

The heirs would report their share of the inheritance.

There is no tax on a federal return for inheritance.

State Tax on an inheritance depends on the state.

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