taxesbydot
Level 4
02-27-2025
04:38 PM
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Life estate but parent not deceased. Home was sold. I did calculate the remainderman's interest so am good there. I am wondering if the distributions to my client's siblings will have any impact. I have reported the entire gain on his return. Should I do something different?
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Level 15
02-27-2025
08:01 PM
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If they didnt own the home and it was sold, anything given to them would be a gift.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
taxesbydot
Level 4
02-27-2025
08:56 PM
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That's what I was afraid of. Peace in the family is a good thing though. Thank you.