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?
u/EastmarkEx — 1 day ago