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- Re: Inherited Property - Gift
Inherited Property - Gift
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martin-kathryn8
Level 1
02-22-2023
04:41 PM
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One child (adult) was left a property by a parent, but the parent's wish was to split the sale proceeds to all of the children. The one who did inherit the property wants to follow through with their wishes. She reported the full sale on her taxes and then distributing the money to her siblings. Would that be considered a gift from her, since she was the technically the sole owner of the property after the parent's death?
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PhoebeRoberts
Level 11
02-22-2023
04:49 PM
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Yes.
