Hello,
My mother who is retired now and I have inherited land from her mother(my grandmother). The land is in the Dominican Republic. I have dual citizenship (US and Dominican). We are planning to sell the inherited land this year or next year.
What would our tax burden in the US look like since the sale earnings from the property will be split 50/50?
Is it a good idea if the sale is only done in her name and all documentation is signed by her since she makes no income to lower the tax burden? the property's title is in both of our names.
Thanks
