In Texas parents died in 2005. Sibling and I equally to share in real estate previously held by parents. Neither wanted so property was sold. At sale proceeds distributed by title company, half to each of us. What is my federal tax liablity? Entire estate was well below Federal Estate Tax limit.
Chosen Answer:
Depends on when it was sold I think. If the estate sold it and then distributed cash to you and sibling, then that's just part of the estate distribution and no tax due. If the estate distributed the real estate to you and
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