bblock
New Member

Is the he profit from the sale of a decesaed parents condo an inheritance, and is it taxable on a federal return?

My wife's mother passed away in 2010, and was survived by her 5 children.  She owned a condo.  The children permitted a sibling to live in the condo until her passing in 2018, and then proceeded to sell the property.  The sale amount was divided between the 4 remaining siblings and the deceased siblings children.  Is this an inheritance and is it taxable?