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My mother in law inherited unimproved property 40 years ago. She wants to sell it now. She’s concerned about taxes. Will she have to pay capital gains tax, and if so, what is the rate?

My mother in law inherited unimproved property 40 years ago. She wants to sell it now. She’s concerned about taxes. Will she have to pay capital gains tax, and if so, what is the rate?

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[–] • 0 pt

Thankfully she’s just going to sell. She’s never used the property for collateral. It’s never been refinanced since she inherited it and there was never any kind of lien on it.