asked

My dad died in April 2023. My siblings and I sold the home in October 2023 and each made approximately $60,000. I received a 1099-S from the law firm for the sale of the property. I thought we did not have to pay taxes on it, but when I do my taxes online, I have to report it and it looks like I will have to owe federal and state taxes which amount to about $6,000. Does this sound right?

December 14th, 2024

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