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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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[–] • 1 pt

No CPA here, my understanding is it's 15%.

[–] • 1 pt

That’s what we thought but are just wanting to make sure.