Legal Question in Wills and Trusts in Florida

My dad passed away and left the house to me and my siblings, we are selling it do any of us have to pay an inheritance tax or capital gains, only one of them is living in the house?

Asked on 4/07/19, 7:25 pm

1 Answer from Attorneys

Assuming the house is in Florida, there is no inheritance tax but there could be other tax consequences (e.g. income tax from the proceeds)--a CPA or tax attorney can better answer your tax questions. Before finalizing the sale, the house will need to be titled to you and your siblings if it hasn't already been do so. This is either done by title, probate, or a trust.

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Answered on 4/08/19, 7:42 am

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