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Taxes on inherited property sold
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Federal taxes on inherited land that was sold.
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Taxes on inherited property sold
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My siblings and I inherited our parents house after their death. It was in poor condition. We had it appraised for $132,000 and sold it for $125,000. Do we owe any federal income tax on it? All I have read so far indicates that we do not. But, how to we file, since the mortgage company that... View more questions Search
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