Legal Question in Wills and Trusts in Georgia

my mother died last year and left her home to my brother and myself in her will. the house was still in her name when we sold it to an individual who buys up houses for rental property. we only owned the house for the length of time it took to sign the house over to us and then we signed the papers to sell the house to the previously mentioned individual. do we claim the money we received from the sale of the house as income and if so can we claim any type of loss because we sold the house for less than the fair market value.


Asked on 1/12/10, 9:18 am

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Ask your accountant.

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Answered on 1/17/10, 9:40 am
Charles W. Field Charles W. Field, Attorney at Law

You need to ask a CPA, not a lawyer.

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Answered on 1/17/10, 12:36 pm


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