Hey y’all -
My father is beginning the process of selling a home which was originally under my deceased mothers name. Because of her death, the house is now his. He’s rented it out for years while we’ve been living in a different home.
The plan is for the house to sell and the $ is split in 3: my dad, me, and my sister. What are the implications of this? My dad states that we need to purchase new homes with that money so that we don’t get “taxed heavily” on the selling price. I currently live with my fiancé and don’t need another house. Are there other ways I can invest my 1/3 share without getting “taxed heavily” ??
Thank you in advance!
Submitted July 18, 2020 at 10:14PM by gotta_carlotta https://ift.tt/3jk7Cve
