borsa2
Returning Member

Do I owe taxes on money received from the sale of my living stepmom's house that I never lived in and for which I received a substitute 1099-S?

I was not aware of the sell until I was notified to come to the closing to get my 25% share of the proceeds along with my stepsister. That is when I learned that my name was on a Warranty Deed with Vendor's Lien "as inherited property."  Also, 25% of the closing costs were deducted from the proceeds that I received. It is my understanding that my father did not leave a will when he died in 1999.