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  • Apr 4, 2007, 10:03 AM
    smeador
    Capital asset tax
    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.
  • Apr 13, 2007, 12:32 PM
    AtlantaTaxExpert
    Did you live in the home? If so, you have NO reporting requirements.

    If not, then you may be able to claim the loss.

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