- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You and your sister need immediate advice from an elder law attorney. Power of attorney gives your sister some rights to handle finances, etc. for your mom; POA does not give your sister carte blanche to take the proceeds of the sale of your mother's house and use it for herself to purchase a house for herself. If your mom is alive and her house is sold, the sale goes on HER tax return if she gets a 1099S or if the gain from the sale exceeds the amount that can be excluded from capital gains tax.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎October 20, 2023
1:01 PM
1,180 Views