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J
Jackijacob00
January 29, 2025
Question

Do I need to report to the irs what I paid my sibling to keep my deceased parents house (wv)?

  • January 29, 2025
  • 1 reply
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    1 reply

    S
    SabrinaD2
    January 30, 2025

    If the payments were to buy out your sibling’s share of the inherited home, this is a private property transaction and doesn't normally  need to be reported to the IRS. However, your sibling may need to report capital gains if they sold their share for more than its inherited value.

     

    For additional information about selling inherited property, click here.

     

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