I'm sorry about your loss.
@Ralston138 wrote:
Os there gift tax due? Was she supposed to pay it?
Your mother was supposed to file a gift tax return, but she would not have had to actually pay any gift tax unless she had made gifts totaling more than $5,450,000 in her lifetime. Assuming her lifetime gifts did not exceed that amount, I wouldn't worry about the gift tax return now.
@Ralston138 wrote:
So I don’t believe it is inheritance. So it must be counted as a gift.
That is correct.
@Ralston138 wrote:
How do I proceed before dividing it up and paying my siblings their share?
The money is yours, since your mother gave it to you. If you give part of it to your siblings, it's a gift from you to them. You don't have to do anything special. Just give them the money. You don't have to file a gift tax return unless you give more than $15,000 to any one person. And the gifts from you to your siblings are not taxable income to them. They do not report it on their tax returns.
