tax on parents sale

[kfellers]

We're selling my father's home and we have joint bank account. If proceeds go into the joint account will I be taxed?

[mesquitebean]

@kfellers 

There are too many "we"s and not enough info to understand what is going on.  I'll ask some questions to get more details, then hopefully someone with some tax expertise may comment further.

First of all, is the father alive?  If so, does he currently own 100% of the house by himself and will benefit 100% from the sale?  Is the "we" doing the selling the father assisted by you?  Or is he deceased, and the "we" are heirs/estate?

And who is the "we" that owns the joint account the proceeds will go into--you and the father, you and a spouse, or you and someone else?   Is it a joint account due to your father's need for you to manage his affairs?   Is it a true joint account, or are you an extra signer on his individual bank account?

If you provide enough info, someone may be able to comment further today.  But don't post any personal info in this public Internet forum.