Selling my mother's house in another state....

[MichaelDesna]

I live in Vermont and own half off my elderly mother's house in Massachusetts as she added my name to the deed in 2017 and she is the life estate owner. She wants to sell it now,  and If I agree to sell, how do I figure the capital gains tax and what are all the forms I need to file federally, with Vermont, and the state of Massachusetts ? My Home and Business software isn't very helpful.

[AmyC]

The life estate was a smart idea for you to inherit the home and then sell it. Selling ahead of time is impacted by jurisdiction and specific circumstances, including any agreements already made. You should consult an attorney, preferably the one that set this up to determine what is already in place and required to move forward with the sale- looking at the MA law and in regards to VT taxation.

You may need a tax attorney as well.

[MichaelDesna]

That was a lousy answer. Turbo Tax is self-proclaimed to handle any tax situation and you can't even tell me what tax forms I would need. This is what I pay over a hundred dollars a year for ? I'll just google it and get an answer. Thanks for nothing. 🤬👎🏻