Do I owe capital gains tax on an inherited home in Meggett?

Whether you owe capital gains tax on an inherited home in Meggett depends on your basis in the property, which usually resets to its value on the date you inherited it rather than the original purchase price years earlier. If you sell near that reset value, taxable gain is often minimal, but appreciation after that date can create one. Brian Beatty supplies a market valuation dated to when you inherited the home so a CPA can calculate the actual number rather than estimate it.