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  1. I and 4 siblings equally own the house that our father lives in. The value was gifted to us years ago over a period of 2 years to make the transactions tax-free. Now, my father needs to move to a senior living arrangement and we would like the money from the sale of the house to be available to him if he needs it. All 5 of us agree on this and I will likely handle his finances. My question relates to how we handle the money from the sale so it's not in his name, but not in all of ours...can I have it all in my name or would that be considered taxable income to me?
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