We have recently sold my 90 year old mother's mobile home in January. She spent time in nursing homes but is now residing with my brother.
Her only income at the moment is Social Security and USPS Survivor benefit amounting to $2275/month.
We sold her home in January for $58,000.00 and have been using her remaining funds for her support.
How would I report this on next year's 2023 filing ? How much should I anticipate and plan to pay in federal taxes ?
Thank you for any advise.