Assuming you're in the U.S: She will almost certainly pay cap gains. When she inherited the property she would have received a stepped up basis to fair market value at the time of the decedent's death. They will be long term capital gains, with the rate being dependent on her total income in the year of sale. If it's a significant amount of money, hire an accountant.
Assuming you're in the U.S: She will almost certainly pay cap gains. When she inherited the property she would have received a stepped up basis to fair market value at the time of the decedent's death. They will be long term capital gains, with the rate being dependent on her total income in the year of sale. If it's a significant amount of money, hire an accountant.
hire an accountant
When it comes to a large amount of anything, it's always best to retain a professional.
> hire an accountant
When it comes to a large amount of anything, it's always best to retain a professional.
Wholly agree there. I believe she will do that.
Wholly agree there. I believe she will do that.
Thanks. That’s what we thought. Appreciate your answer.
Thanks. That’s what we thought. Appreciate your answer.
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