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How do you calculate the capital gains tax on a sold property that was inherited?
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Inherited property sold for less then the appraisal tax fees?
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Tax on inherited property sold abroad
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My wife (a US citizen) inherited 3 acreas of land in Honduras. She recently sold it for $100,000. To date she has only received a down payment of $20,000 of which she had to pay a capital $4000 capital gains tax to Honduras based on the total sales price. The purchaser has run into some...
Tax on inherited property sold overseas
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My parents (non-US citizens) lived overseas and have passed away. On the death of my mother, I inherited their apartment and have recently sold it and intend transferring the proceeds to the US. I am a US citizen, 72 years old, reside in the US and file joint tax returns with my wife. Question:...
Do I pay tax on inherited property sold?
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My brothers and I (4 of us) each inherited equal portions of my mother's house when she died. We sold the house shortly after the estate was settled and each of us received ~ 18,000 (there was no mortgage). Now, I am aware that any gain is taxed as long term no matter how long we owned it, since it... View more questions Search
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