Hello tagteam and thank you for your kind words. I don't know what happened to the question but I will try to explain. Our mother has a will that left the house to the three of us to be divided equally. She died in September, 2021 and we had to wait for probate (I hope that is the correct word) to clear before we could list the house. We sold the house in November 2021. It was an inheritance and the son was named executor of the will. He listed the house with a realtor, he paid the taxes, he took care of everything. All three of us had to sign the papers to sell the house to the buyer and after the sale the son divided the money up between us evenly. I keep reading that in the state of Georgia there is no inheritance tax and you do not have to pay tax unless you make over 11.7 million dollars. We got an appraisal and sold the house for a little less than the appraisal so no profit was made on the house. We have not received any forms or anything from the IRS or state of Ga. According to what I read it talks like we do not need to report anything to the sate or the IRS but the IRS part is unclear to me. I am about to start my taxes and I want to be clear on the sale of the inherited house which sold for $272,000 and divided three ways. Thank you!
