Charleston · Selling

Do I pay tax when I sell an inherited house?

Inherited-house sales owe tax only on gain above the stepped-up basis, which resets to the home's value on the day ownership passed to the heir. Tax applies only to any gain above that reset value, and selling soon after inheriting often means little or none. An accountant should confirm the exact numbers, since basis rules get complicated with jointly owned property.

Get your free home valuation.

Still have a question?

Ask Brian directly. No form, no obligation, and a real answer even when the answer is that now is not the time to sell.