topic Re: inheritance in Get your taxes done using TurboTax

inheritance

Sky14 — Mon, 09 Mar 2026 11:39:58 GMT

Hi,

We ( 3Siblings) inherited a couple of properties when our father passed away. After probate, the executor/estate sold the properties and equally divided the sale proceeds to his kids. Is this taxable? Thank you.

Re: inheritance

MayaD — Wed, 06 Apr 2022 22:48:35 GMT

It is taxable. You will pay taxes on the gain not the total proceed.

Re: inheritance

Sky14 — Wed, 06 Apr 2022 22:52:46 GMT

Hi Maya,

Thank you for the response. Could you explain gain vs total proceeds?

Re: inheritance

Sky14 — Wed, 06 Apr 2022 22:58:13 GMT

Side note; the properties were never transferred to us as they were sold by the estate.

Re: inheritance

RobertB4444 — Wed, 06 Apr 2022 23:13:00 GMT

@Sky14 You need to contact the executor of the estate and ask if the proceeds that were sent to you will be accompanied by a K-1 from the estate - marking them as taxable - or if the estate sold the property and posted it on the estate's return meaning that they are not taxable.

Re: inheritance

Sky14 — Wed, 06 Apr 2022 23:19:01 GMT

Thank you.