My wife and her 7siblings inherited a house from there parents and I purchased 2 of the siblings share of the house for 2000 dollars each.
we sold the house for 190000 dollars and after expenses we received 21000 dollars each except I received 42000 dollars and we had to pay 2 of the siblings 9000 dollars each ford paying the loan off on the house. I had a lot of time invested in getting house ready to sell along with several thousand dollars in materials. How and where do I stand with taxes. I am also disabled.
I assume the siblings don’t pay any tax
