taxesbydot
Level 4

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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Just-Lisa-Now-
Level 15
Level 15

If they didnt own the home and it was sold, anything given to them would be a gift.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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taxesbydot
Level 4

That's what I was afraid of. Peace in the family is a good thing though. Thank you.