misstealeaf
Registered User
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My parents bought a house together in 1979. My mam left my Dad in 1981 and has lived elsewhere ever since hence the house has not been her PPR since then. My Dad passed away last year at which time my Mam inherited his share of the house. (should note that even though she moved out of the house, they were still married and her name remained on the deeds of the house).
My mam has now sold the house and is liable to pay CGT on the gain. My question is what is the base cost for disposal of the house? Is it the purchase price indexed from 1979 OR is it half the purchase price indexed from 1979 plus the market value of half the house at the date of inheritance from my Dad?? The latter would imply that she has only owned half of the house from the date of death of my Dad which was the case
Any help on this would be appreciated? I have looked up the revenue website but can't find anything of relevance here. Also if anybody knows if there is a CGT helpline i could call on this can you let me know?
Thanks
My mam has now sold the house and is liable to pay CGT on the gain. My question is what is the base cost for disposal of the house? Is it the purchase price indexed from 1979 OR is it half the purchase price indexed from 1979 plus the market value of half the house at the date of inheritance from my Dad?? The latter would imply that she has only owned half of the house from the date of death of my Dad which was the case
Any help on this would be appreciated? I have looked up the revenue website but can't find anything of relevance here. Also if anybody knows if there is a CGT helpline i could call on this can you let me know?
Thanks