Thanks for your feedback. We live in NC which I believe is not a community property state.
Would it make sense to do a quitclaim deed at closing to give all interest in the property to me if all my family members agree? My thought on this is that it would allow me to handle all the tax obligations with my $500k exclusion and have my name on the 1099 alone. This would also allow the adjusted cost basis to be mine alone and would be equal to the adjusted cost basis my mother had when my father passed. I feel like this would be easisest and since it is all family no one will have objections. What are your thoughts?
