QUESTION
inherited house that is in trust, I am transfering into my name, is it still taxed as inheritance when I sell it?
Asked on Jul 08th, 2014 on Trusts and Estates - California
More details to this question:
is there any inheritance tax when the house is sold or capital gains if this house was left to me in a trust?
1 ANSWER
4 Awards
Yes, there is a tax when you sell the house for the amount of the profit earned on the difference between the sales price and the value of the property on the date of death of the prior owner so long as the gain is more than $250,000.
Answered on Jul 18th, 2014 at 12:54 AM
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