• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Life Estate/Divorce

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

S

Saddison

Junior Member
Need Some Advice RE: Property sold in Life Estate

Name of state: FL/WI

My parents had a life estate on some property in FL. They were divorced last year and the property was sold per court order. Both of my parents recieved proceeds from sale as well as myself and 5 siblings. Does anyone know if the proceeds from the sale are considered inheirtance or Capital Gain for tax purposes? :confused:
 
Last edited:


You must log in or register to reply here.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top