What is the name of your state? Washington
My Mother is a resident in Washington State and has property(land) in Pennsylvania owned with her 4 siblings. My Question is : I would like to know what the tax ramifications would be for her if they were to sell the property in Pennsylvania. Lets say the property sells for 10 million----that would be 2 million per owner. What are the tax issues for that sale in regards to state law for Washington where she resides and Pennsylvania where the property is owned ?
Will she face a double tax issue for both states ?....her resident state ?....and the property state ? Thank you so kindly.
My Mother is a resident in Washington State and has property(land) in Pennsylvania owned with her 4 siblings. My Question is : I would like to know what the tax ramifications would be for her if they were to sell the property in Pennsylvania. Lets say the property sells for 10 million----that would be 2 million per owner. What are the tax issues for that sale in regards to state law for Washington where she resides and Pennsylvania where the property is owned ?
Will she face a double tax issue for both states ?....her resident state ?....and the property state ? Thank you so kindly.