A
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Guest
My father-in-law just sold a house that he and his two brothers owned (it was originally their father's.
He is completely deaf, is 73 yrs. old, and a veteran. He has never owned or sold a house before and only receives about $600 a month in soc. security.
He has no pension or retirement fund, just his soc. security.
Does he still have to pay capital gains or other taxes on the sale? He will receive about $55,000 from the sale.
Any advice???
He is completely deaf, is 73 yrs. old, and a veteran. He has never owned or sold a house before and only receives about $600 a month in soc. security.
He has no pension or retirement fund, just his soc. security.
Does he still have to pay capital gains or other taxes on the sale? He will receive about $55,000 from the sale.
Any advice???