Charleston · Situation

Do I have to pay capital gains tax on an inherited home?

Capital gains liability on an inherited home is not automatic, it depends entirely on what the property was worth on the date you inherited it versus what you eventually sell it for. Most heirs owe tax only on gains earned after inheriting, not on decades of appreciation the original owner experienced, because the tax code resets your basis at that transfer. A CPA should confirm this against your full return, and Brian Beatty can supply the valuation as of the inheritance date to support that filing.

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