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Sister Paid Points |
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Before my Father pased away,he signed over the grant deed to my Mother who in turn put half the house in my Sisters name in a trust. When my Mother passed away She, my Sister, was to sell the house and split the proceeds with my two Sisters and myself. My Sister sold the house for $415,000 less $12,500 closing costs for new owners and 20,700 to the Realtor. My question is, should She have paid the buyers points one, and will We be getting any tax bills from Uncle Sam or the Governator? |
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We're in a difficult selling market, and it's likely that your sister was right in helping with the buyers' closing costs, if that was what was needed to get the place sold.
As for the tax situation -- with a trust iand an inheritance nvolved I don't know enough, at this distance, to give you tax information. A professional tax preparer should be consulted at this point. |
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Originally published on June 5, 2008 |
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