My mother and I received a warranty deed from a family member with both of our names on it. My mother and I decided to sell the attached peice of land and split the profit 50/50. My question is... Will my mother and I have to pay income earned taxes on each of our profit from the land? I can't seem to receive a clear answer from my accountant. Thanks! P.S. This is my first post on Reddit.
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source https://www.reddit.com/r/RealEstate/comments/eh0bjf/warranty_deed_tax_implications/
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