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-   -   Capital Gain Tax (https://www.askmehelpdesk.com/showthread.php?t=18686)

  • Jan 24, 2006, 03:57 PM
    gtd
    Capital Gain Tax
    Hello all, I am new to this forum and have a question about Capital gain tax

    I inherited a comercial property from my father in 1998. At the time of probate the property was valued at $150,000.00 I Have just accepted an offer to sell for $110,000.00 Do I owe Capital Gain Taxes?
  • Jan 24, 2006, 09:03 PM
    CaptainForest
    How much did your father PAY for the property when he bought it?

    I believe that is the number you use to determine whether you pay capital gains tax on it.

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