Client and sister (in CA) inherited parents' home in Rhode Island. House sold for $17,000 more than appraised value, d of d. In escrow, there was $80,000 reserved (into an account) for the life estate of the widow who is in a nursing home. Is the $80,000 deducted from the profit or do we ignore it and use the $17,000 profit? Nan, EA in LA
- posted
19 years ago