CHAPTER 8 Inherited Home Sales & Taxes
Selling an inherited home may involve taxes on that home, as special tax rules apply if the house you are selling is inherited. Some people are under the impression that the money received on the sale of an inherited property is tax-exempt, while others believe they will owe capital gains tax on any sale above the amount the willmaker paid for the house. Others wonder, if you inherit a home, does the $250,000/$500,000 Home Sale Tax Exclusion apply to the sale of the property? We will examine those issues here.
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