OK, my problem is this. Almost seven years ago a parent of mine bought a condo with both of us listed on the deed as joint tenants, heck, I remember signing papers for the place. Months after Father has passed and the tax return is about to filed, I have been told that any joint tenancy DOES NOT MATTER. What's more, that the full amount of the condo's purchase price must be taxed. I have been told that this is because I personally never payed for the property and it was never formally "gifted" to me. I am more than a little skeptical on this and would appreciate any real hep here.
Oh, and if it makes any difference, the property is in the District of Columbia.