Vanessa A
Expert Alumni

Get your taxes done using TurboTax

Possibly.  If you sell the property for more than your cost basis (which would be what he paid for it plus improvements he made) you would need to pay taxes on the profit.

 

If you sell it for less than his cost basis, then you would have a loss and not need to report it. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"