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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?
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‎June 4, 2019
9:54 PM