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I received approximately $7K this year as my portion of sale of property from my father's estate. The estate attorney says I am responsible for figuring out if I owe tax
When the estate return was filed the property was appraised at $24K so taxes were paid on that amount. In 2017 the property was re-appraised at $30K and sold for that amount. Do I use Schedule D to figure out if taxes are due on my portion (the 7K I rec'd)?
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‎June 4, 2019
11:42 AM