estate taxes on principle residence
are capital gains taxable on the sale of a principle residence once the residence is put into the estate of a deceased single person - sold after probate - 10 months after death?
Asked on 8/08/08, 1:30 pm
1 Answer from Attorneys
Meldon Ellis
Ellis Business Lawyers
Re: estate taxes on principle residence
Yes - they will be taxable to the estate. The taxable capital gain would be the difference between the value at the time the estate acquired the property and the value at the time the estate disposed the property.
Answered on 8/22/08, 3:09 pm
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