My sister and I inherited a home from our mother 5 years ago. The house has appreciated from the assessed value at the time of my mother's death. We will each receive half of the proceeds when we sell the house.
My question is- am I only responsible for capital gains on my half of the proceeds from the sale?
Also- if I reinvest the my half of the proceeds from the sale of the house in another home- can I avoid paying capital gains on my half?
