I'm a resident in Nevada. I was added to the deed of my mother's 2d home property (Nevada residential property) last year. I have lived in the residence for the entire time since it was purchased in Dec 2000, she has not, she resides in California. We plan to sell and will realize a profit of about $350k to $450k. My mother is married, my significant other and I are not. What capital gains laws etc. apply to the transaction/us and what is the best way to retain as much profit as possible?[email protected]
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