- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@mkelly3362 , Simple answer: 25%. In general, taxes "follow the money".
Since your mother lived in the house, as her primary residence, for 2+ years, she can exclude, from federal income tax, up to $250,000 of her gain on the sale. But, since it was not also your residence, your will have to pay capital gain tax on your share.
‎July 20, 2022
3:59 PM