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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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We (3 sisters) Inherited property from mother who died 7/7/2008,

Customer Question

We (3 sisters) Inherited property from mother who died 7/7/2008, completed probate May 2015. Preparing to sale property will we be required to pay taxes, the title company has indicated we will need to complete IRS 593-C form. I thought inheritance under a $1M was exempt from taxes.
Submitted: 2 years ago.
Category: Estate Law
Expert:  Infolawyer replied 2 years ago.
You would file the form, but pay no tax. It is a reporting requirement only which your accountant should prepare. Kindly let me know if that is fast, clear and acceptable.