Afraid of taxes when selling inherited home?

Don't worry, unless you wait too long

Inman News

Q: My father recently passed, and my siblings and I sold his house and split the profits according to his will.

What would be the best way to keep from paying taxes on this gain? It's approximately $14,000. If I put it in a Roth IRA or regular IRA would that shield me from the tax burden? Please give me some advice on what to do with this money so it's not so devastating when tax time comes.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to news archives.

Inman Premium Membership

Buy Now $149.95/yr

Advertise with Inman