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joint with survivorship income tax implications
My Mother purchased this property in 1959 for $9,500. At some point with a warranty deed she put my oldest brother on joint with survivorship. Then
in the 1974 with a warranty deed, my mother and older brother put themselves and three other siblings names including me) on the property, joint with survivorship and then one sibling passed in 2011 (oldest brother), my mother passed (February 2020), we sold the property.
. Is it a purchase, or inheritance, or a gift? I'm trying to run the numbers through my 2019 Deluxe turbotax to see what my tax implications would be but it's too cut and dry; nowehere to put money spent on improvements since 1974.
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‎July 7, 2020
11:23 AM