I inherited a house 3 years ago and it has been my primary residence since. I want to sell the house and split it 3 ways between family members. I am the sole owner. How can I do this in the best way? I'm worried I am going to get stuck with a huge burden when it comes to doing taxes.
Edit* Splitting the profits would be more than $14k each for the gift tax exemption. Is there a way I could avoid that?
