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QUESTION DETAIL
Related User
Votes
If I was selling an estate property in the amount of $90,000 or $125,000, how much in taxes would I have to pay?
ANSWER
The BIDaWIZ Team's Answer:
Your basis in the property equals the FMV of the property, when
you inherited it. Thus, your capital gain equals the difference between the
sales price, and the basis amount. The tax amount owed, equals 15% of the
capital gain amount.
