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My wife got $89,000 from the sale of willed property from her grandparent. We divorced the same year. Am i as an ex husband and with my name not on the property.
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Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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Your former wife must report the difference between the price she sells the inherited property for and the value of that property when she inherited it. Your tax status is determined by your marital status at the end of the tax year (December 31). If you filed a joint return with your former wife for the year in which the property was sold, you may have had some tax liability.
Answered on Apr 15th, 2013 at 12:59 AM