Do i have to pay taxes on inherited property? mom died 11-2015 .property was held in life estate. at death passed to 3 siblings. siblings sold house 10-2016.

[Coleen3]

If there was a profit on the sale, yes, but it will be split between the siblings. Your basis in the property is the Fair Market Value on the date of death. If you sold it for more than that amount, there is a gain.