Selling an inherited property

What is the name of your state? Missouri

My mother, along with her two brothers, inherited her mother's house upon her death. One of the brother's is wanting to buy her share. Her portion is only about $30,000. Would this be subject to capital gains tax and if so, what percentage? My father is on disability and my mother works a couple of days a week, not making much over minimum wage, so their income is very small, if that's an issue. They also have thousands in hospitals bills they're paying on. I'm trying to find a way for them to not be taxed as they can use every bit of. Thanks for any information you can give me.

[HomeGuru]

Originally posted by kristyt
What is the name of your state? Missouri

My mother, along with her two brothers, inherited her mother's house upon her death. One of the brother's is wanting to buy her share. Her portion is only about $30,000. Would this be subject to capital gains tax and if so, what percentage? My father is on disability and my mother works a couple of days a week, not making much over minimum wage, so their income is very small, if that's an issue. They also have thousands in hospitals bills they're paying on. I'm trying to find a way for them to not be taxed as they can use every bit of. Thanks for any information you can give me.

**A: please post tax questions on the correct Tax Law forum. Thank you.

Sorry, new to this. I put it on the tax forum. Thanks!

[HomeGuru]

Ok, right on.