O OLD MONEY Registered User Messages 16 28 Oct 2011 #1 I inherited a property from my mother several years ago.If I were to sell it would I be liable for Capital Gains tax?The property is not my principal residence.
I inherited a property from my mother several years ago.If I were to sell it would I be liable for Capital Gains tax?The property is not my principal residence.
A asdfg Registered User Messages 1,638 28 Oct 2011 #2 If I were to sell it would I be liable for Capital Gains tax? Click to expand... Yes - If there was a gain made from the date the property became yours. Unlikely a gain has been made in the current market.
If I were to sell it would I be liable for Capital Gains tax? Click to expand... Yes - If there was a gain made from the date the property became yours. Unlikely a gain has been made in the current market.
M M K Brazil Registered User Messages 54 7 Nov 2011 #4 Only is sales proceeds exceed the value at the date of death. Note you might be asked to explain how the property was used in the intervening years so if rented, make sure you have declared the rent for taxes.
Only is sales proceeds exceed the value at the date of death. Note you might be asked to explain how the property was used in the intervening years so if rented, make sure you have declared the rent for taxes.