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-   -   Taxes on inherited property (https://www.askmehelpdesk.com/showthread.php?t=82675)

  • Apr 14, 2007, 05:58 PM
    rvj
    Taxes on inherited property
    Are taxes due, such as capital gains taxes, on sale of inherited property?
  • Apr 14, 2007, 06:12 PM
    ScottGem
    Yes. At the time of inheritance, a cost basis is set for the property. Any increase over that cost basis is income.
  • Apr 20, 2007, 11:09 AM
    AtlantaTaxExpert
    Scott has it right!

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