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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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Maybe find some way to make a 1031 exchange work for her if you can. Being that it wasn't a primary residence will make things easier, but you should really talk to and hire an actual CPA (those 1031s can be rather tricky, and the IRS has been cracking down on them in particular).