Long term capital gains
I have a tax question.
My stepdad inherited a piece of land (9ac raw, now building, planted pines) when his father died in ‘21. He was later diagnosed with cancer and before passing, signed the deed over to me, my mom, and my sister in ‘24. We just sold the property this past week and I’m trying to see what percentage I should withhold for tax reserve.
My mom called her accountant and was told we don’t owe any taxes?? I feel like thats incorrect. Any input?
* I am aware that none of you represent me and are not giving me concrete legal/financial advise*