@gander2694 wrote:
.....how is this calculated!
For federal income tax purposes, any gain (loss) would be calculated by subtracting the basis of the house (generally the fair market value on date of your mom's passing) from the selling price (less selling expenses).
Typically, if the house is sold within a short period of time after a decedent passes, there is no gain and, in some cases, there is a loss.
Presumably, an executor was named in the will and that person should be the one handling any tax issues for the estate.
