I loaned my father $95,000 to pay caregiver expenses before he died in 2021. As executor I will be selling his house soon. I received 40% of his estate, and my two siblings received 30% each. Do I personally have tax consequences, or do I simply receive a cash payment from the sale that is 40% of the proceeds plus my $95,000? Also, would my purchasing the house myself, and paying the other heirs their cash amount cause the situation to be different?
The cash basis for the house is about $100,000 less than we should expect from the sale.
