What is the name of your state (only U.S. law)? Montana
Myfather died last year without a will and we selected my brother as the personal representative of the estate- the estate went through probate and we then decided to sell my father's house. It just recently sold and my brother paid all the estate bills, etc. He has just divided up the assets among the 3 of us and I just yesterday got a check for $33,000. What is my next step as far as taxes, etc? Do I owe estate taxes or capital gains taxes or anything else for that matter? I plan on seeing a tax professional but would like to know what I am looking at. Thanks
Myfather died last year without a will and we selected my brother as the personal representative of the estate- the estate went through probate and we then decided to sell my father's house. It just recently sold and my brother paid all the estate bills, etc. He has just divided up the assets among the 3 of us and I just yesterday got a check for $33,000. What is my next step as far as taxes, etc? Do I owe estate taxes or capital gains taxes or anything else for that matter? I plan on seeing a tax professional but would like to know what I am looking at. Thanks