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Gift of profits from sale of fathers home

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L

ld66

Guest
What is the name of your state?

Massachusetts


I currently live in a house my father owns. He lives in Tennessee.
He would like me to sell his house, and keep the profits over and above what's left on his mortgage. I am not on the deed.

What taxes, penalties, etc does he need to take into account, and what is the best way to go about this?

Thank you
 



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