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Investors & landlords
Hi and thank you for the answers...
A little more background.
The house was in a living trust. It was quick deeded over to the kids prior to passing. One parent is still alive the other deceased after the transfer. We worked with an elder law group that specializes in Medicaid.
The NY state taxes were state income taxes on the sale of the house. $223K split 2 ways all profit as the house was paid off. So is it technically inheritance?
I guess i need to file a NY state tax return?? The real estate lawyer in NY insisted that it was paid up front as we live in FL.
‎April 3, 2023
11:53 AM