My father passed away in March of this year. No will. No spouse. No other assets other than his home, property and shop on the property. He was a Minnesota resident, as are my 2 sisters. I am a Wisconsin resident. My youngest sister and I waived our right to be personal representatives, allowing our other sister to take over. Probate was done in August. We are closing on the property sale end of October. Once all debts are paid through the estate, the money will be divided amongst us 3 girls. Do we all need to claim it on our taxes? Or is it just the personal representative that needs to file the estate taxes/capital gains/losses? Do my youngest sister and I need to claim anything on the roughly 70k we will each be receiving? We just want to make sure that we set aside enough to pay our portion come tax time.
