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Impact of home sale on income tax filing requirement for elderly nursing home resident
My 84-year-old mother is a resident in a nursing home in Wisconsin. Her only income is social security benefits and a pension. She also receives Medicaid benefits to help cover her residency expenses. My father is deceased. My parents have not had to file an income tax return for a number of years due to low income. We sold their home in 2023. My mother received a little under $47,000 in gross proceeds from the sale. Due to her receiving those proceeds, will my mother need to file either a federal or state income tax return for 2023?
‎February 7, 2024
9:59 AM