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Get your taxes done using TurboTax
Hi,
I became the sole owner through a life estate of my mother’s house when she passed away in 2020. She established the life estate in 2018. I am about to sell the house (roughly $350k), and I am wondering roughly what the tax implications will be. I will be sharing the proceeds with my siblings, and don’t want to withhold until next tax season. Thank you for any guidance!
May 3, 2021
3:03 PM