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Financial Planning / Tax Strategies


Subject:  profits from sale of home Date:  4/8/2002  2:11 AM
Author:  umma2three Number:  60082 of 127512


My mother will receive around $150,000 from the sale of her condo. She doesn't need the money, and does not want to purchase another property.

She wants to give the money to my sister and me. Can anyone advise on the tax conseques for me and my sister? (All three of us were owners of this condo, although it was my mother's)

Also, where should we put the money (short term) until we figure out what to do with it?

Thank you for your advice.

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