if you and your brother were gifted it and sold it at a gain depreciation recapture would apply. however, if inherited after the death of your father/parents you get a step-up to date a death value, so if sold immediately afterwards there no gain (probably a loss due to selling expenses) and no depreciation recapture. depending on the age of your father it might be best to consult a financial advisor to look into everything to see if gifting is the best idea,. they will ask questions and get information about things that may not have been presented in your thread and that could make a big difference,
