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    dborah55's Avatar
    dborah55 Posts: 1, Reputation: 1
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    #1

    Sep 30, 2009, 11:29 AM
    Sold home left to me by my mother
    Hi

    I was left my mothers home upon her death, I lived in the house for 11yrs I just sold the house after paying bankruptcy court I have 45,000.00 left I already put 10thou into cd but no one could answer me about paying any capital gain taxes or any kind of taxes on the sale of the house could someone please answer my question? Thanks
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #2

    Sep 30, 2009, 01:09 PM

    Anytime a home is sold for a profit the government is going to get their share in the form of capital gains... so yes, you will owe taxes on the profit of sale.
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