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Capital asset tax
smeador
Apr 4, 2007, 10:03 AM
I inherited a home in 1991 from my mom worth $65000. I sold it in 2006 for $50,000 less sales cost. What do I have to report as gain and which form.
AtlantaTaxExpert
Apr 13, 2007, 12:32 PM
Did you live in the home? If so, you have NO reporting requirements.
If not, then you may be able to claim the loss.