Quote:
Originally Posted by Vleka
I need some advice. My mothers home is also in my name. She has passed away and I need to sell her house and split the money three ways with my siblings. What is the best way to do that without everyone getting dinged by taxes? Can I gift it to them? Can I just deposit my share in the bank or do I have to reinvest it in another house? I would appreciate any advice you can give me. Thank you.
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In simple terms, if the house was already in your name (and only your name) then there is no inheritance of the house. It was already yours. When you sell it you may incur capital gains and be taxed as such, but that depends on a number of factors.