USA California one time tax gift?

[dt004]

Sold my moms house, its in escrow ( she died a while back ). Me and my 4 other siblings split 330,000.
I've lived here for 30 years and I'm the trustee. Never had a gift like this before. I want to get an apartment. Am I entitled to a one time gift, or tax break?

Thanks

 

[kirby]

If the house is in title to a trust then you need to file a trust tax return. In general the tax basis of the house became its fair value on the date she passed. So if you sell for more than that less selling costs you will have taxable gain. You really need a tax person on this to avoid problems. Sorry about your Mom.

 

[dt004]

What do you mean by a tax person? Remember I'm in southern california.

Who can help me?

 

[kirby]

Any of those folks advertising that it is tax time and they do income taxes.
So could be tax to trust but not to you and your siblings