Do I owe taxes for 1099-s on sale of propety My mom had passed away in 2011 and my brother and I inherited property which neither of us lived in and we sold it last year. It was sold for $60,000 and it was valued at around $100,00 at the time of her death. Will we have to owe taxes for each of our share of the proceeds. I live in ca and the property was in mississippi. Thanks for the help |