You inherited the house for the value on the date of death. Selling it to a family member changes the rules. You are giving that family member a gift of the difference. If you exceed the gift tax per person (2024- $18,000 and 2025- $19,000) then you may need to file a gift tax return. Depending on the estate, there may not be an additional tax consequence.
For example: Inheritance value is $300,000 divided by 4 is $75,000 each. For 2025, that would mean a discount up to $19,000 each would have no tax requirements. $75,000 -$19,000 =$56,000 per person minimum sale price. $56,000 times 4 equals house sales prices of $224,000 with no tax issues. Less than $224,000 would mean a gift tax return by the 3 gifting the extra money.
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