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peacebella17
New Member

We sold our mothers home we inherited and split over all the brothers except one.

One brother asked us to get their share because he was on Medicaid and hospice, dying of cancer.  If he got his share, the medicare would have stopped and he wanted his wife to have some money for burial and other expenses related to his death.  So, we sent him his money % to his wife after he passed away.  But we are stuck with claiming the extra amount that we really didn't get.  We got $129,310.  We sent the widow of our brother $19,000.00.  But on 1099-s it was the $129,310 that was filed.  Now we owe over $4k.  If we cleaned the $110,310, our amount owed to the government was around $300.00.  Is there anything we can do?
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Accepted Solutions
DDollar
Level 4

We sold our mothers home we inherited and split over all the brothers except one.

There's not really anything you can do at this point.  Your brother disclaimed his share and you received the money.  When you accepted the money, you accepted the tax liability.  You then made a generous gift to your brother's widow.  There is no tax deduction for gifts to individuals, so you will have to be satisfied with having helped your brother's widow.

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1 Reply
DDollar
Level 4

We sold our mothers home we inherited and split over all the brothers except one.

There's not really anything you can do at this point.  Your brother disclaimed his share and you received the money.  When you accepted the money, you accepted the tax liability.  You then made a generous gift to your brother's widow.  There is no tax deduction for gifts to individuals, so you will have to be satisfied with having helped your brother's widow.

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