Article Highlights:

• Inherited Basis
• Certified Appraisals
• Loss On Sale
• Potential Law Change

People who inherit property are often concerned about the taxes they will owe on any gain from that property’s sale. After all, the property may have been purchased years ago at a low cost by a deceased relative but may now have vastly appreciated in value. The usual question is: “Won’t the taxes at sale be horrendous?” Read More