Do You Owe Capital Gains Tax When You Sell an Inherited House in Ohio?
One of the first worries heirs bring up is taxes. If Mom bought her house for $40,000 in 1982 and it’s worth $170,000 now, will you owe tax on that $130,000 difference when you sell? For most people, the answer is no. Thanks to a rule called the stepped-up basis, capital gains tax on an … Continued