Archive for October, 2008
October 28th, 2008 | 
Author: 
tcoupes@verizon.net asked:
In Texas parents died in 2005. Sibling and I equally to share in real estate previously held by parents. Neither wanted so property was sold. At sale proceeds distributed by title company, half to each of us. What is my federal tax liablity? Entire estate was well below Federal Estate Tax limit.
Bart
In Texas parents died in 2005. Sibling and I equally to share in real estate previously held by parents. Neither wanted so property was sold. At sale proceeds distributed by title company, half to each of us. What is my federal tax liablity? Entire estate was well below Federal Estate Tax limit.
Bart
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Racey_Arms asked:
My parents wants to pay off my house. They feel guilty that they haven’t helped me compared with my siblings, and while I make good money and are able to pay off my own bills an extra 1K in my pocket will greatly improve my quality of live. So how do I handle it, to have my parents pay it off without paying for the estate/gift tax that will cost both me and my parents? Damm taxes!!!
Julianna Shomin
My parents wants to pay off my house. They feel guilty that they haven’t helped me compared with my siblings, and while I make good money and are able to pay off my own bills an extra 1K in my pocket will greatly improve my quality of live. So how do I handle it, to have my parents pay it off without paying for the estate/gift tax that will cost both me and my parents? Damm taxes!!!
Julianna Shomin