My wife sold in 2015 the house her father left to the 9 children. We plan on selling our primary house this year and move out of state, will the sale of the inherited this house have any negative consequences on the sale of our primary house this year? We lived here for the part 40 years and don't owe anything on it.
1 Answer from Attorneys
Shouldn't affect anything. There's no tax due on the inherited house (until you sell that), and any tax due on your primary house will be unconnected to the inherited house.