I am sorry if I am posting this in the wrong place, but looking towards next year's taxes and want to know what to do. My father passed in Feb of this year. He was the title owner of the vehicle. My siblings live out of state-including the executor of the estate-and I am the only one within the state. Executor had me fill out paperwork and the siblings signed over the vehicle to me, in order to sell it as an inherited vehicle. So we had the title of the vehicle put in my name and then I sold it on behalf of my family to Carvana. The check was made out to me, and then I deposited it to an account that I was on with my father at the bank. My question is, will I be taxed on this $16K vehicle next year? I am only inheriting 1/3 of the car sale. How does this work? Thank you!
