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Sep 9, 2024
4:20
:38
pm
ebv
All-American
Typically not. If it's inherited assets, you get a step-up in tax basis, so you
could liquidate property immediately after inheritance, have no gains on the property, and pay no tax.
If it's really significant, though, it might be worth having a wills and estates attorney be on call to help figure out tax liabilities.
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ebv
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ebv
Joined
Jan 12, 2011
Last login
Sep 18, 2024
Total posts
12,238 (708 FO)
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Messages
Author
Time
Is inherited $ taxable? I’ve been getting mixed info. No estate tax in this sit
BamaCoug
Sep 9, 4:17pm
<< Deleted >>
RexIdaCoug
Sep 9, 4:19pm
Typically not. If it's inherited assets, you get a step-up in tax basis, so you
ebv
Sep 9, 4:20pm
It's complicated if it's income producing. If it is making money after the
cougarfann888
Sep 9, 4:30pm
Is it an estate or a trust? Is there a reason why the estate hasn't been closed
BYU-Ite
Sep 9, 4:27pm
Generally only for post-death appreciation, possibly for traditional retiirement
mkg
Sep 9, 4:42pm
When the last parent died you should have gotten an appraisal.
Cobra Venom
Sep 9, 4:49pm
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