u/EastmarkEx

▲ 2 r/Real_Estate+1 crossposts

Home sale and deed/tax question

My mom is selling her Florida condo and my husband and I happen to be on the deed (for probate purposes, as well as us cosigning for her in a past Refi). She has lived in this condo for 20+ years, paying full mortgage/taxes (has homestead exemption)/HOA assessments and fees, etc. Are we subject to capital gains taxes since we're on the deed? We would prefer for her to receive 100% of the proceeds with the transaction but not sure if that's possible and if it is, does that release us of any tax implications?

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u/EastmarkEx — 1 day ago