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Do you have to pay taxes on selling your deceased fathers house?
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∙ 10y ago
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What are the tax consequences of selling a house or apartment in the US?
If you live in the house for two of the five years before selling, the IRS exempts sale profit of up to 250,000 if you are single or 500,000 if you file jointly from income taxes.
What are the capital gains taxes on the selling of a deceased persons home valued at 67k and sold at 76k but clear after fees and taxes 68k?
Depends on how this home was passed down to you. Need more info on whether it was a will, a trust, etc. But if it really is valued at 67, your GROSS proceeds are 68, your gain would be 1k.
What if a deceased files taxes and owes taxes to the IRS?
If this person was a spouse, see this article: http://irsmind.blogspot.com/2008/07/q-filing-return-for-deceased-spouse.html Hope that helps! Andrea http://www.TaxFacts4U.com
Is a wife responsible for unpaid taxes of her deceased husband in Illinois?
most of the time
Which type of taxes imposed on those who inherit assets from a deceased person?
inheritance tax
Do you have to pay capital gains tax on your deceased fathers house when you sell?
Do you have to pay taxes on deceased mother's house when it sells
How long can you leave a house in a deceased person's name if there is no mortgage Who is responsible for the property taxes?
how long can you leave house in deceased name
You sold your fathers house 2 years after his death do you have to pay new york state taxes?
Yea sadly you do.
Taxes on property when other owner dies?
If taxes are delinquent, the county could put a lien on the property of a deceased individuals and sell it. If the property of the deceased person is up to date on tax payments, the house may be given to beneficiaries or listed by a realtor.
What are the tax consequences of selling a house or apartment in the US?
If you live in the house for two of the five years before selling, the IRS exempts sale profit of up to 250,000 if you are single or 500,000 if you file jointly from income taxes.
If a deceased paid no business or personal taxes will that come up in probate?
In most cases that will be a responsibility of the estate. The executor is supposed to file taxes for the deceased and the estate.
What is the penalty of selling house after 3 month living in?
The penalty is that you may have to pay taxes on any profits that you make on the house because you didn't live there for two years.
Can you sell a house for taxes if the owner is deceased?
AnswerYes. In fact, taxes are usually the number one creditor of an estate and take precedence over nearly everything else. In other words, you would have to sell the house and all the other property necessary to pay the taxes before you could even think about who might get anything left over.
Can you file a deceased person on your taxes?
No. A deceased person is not a taxable person. and as such it cannot be filed as taxable person or entity.
Will you have to pay taxes on money received from a deceased uncle?
Generally, no.
Do you have to pay taxes of a deceased person?
Their estate has to pay any taxes due up to the day they died.
this is in Texas, estate includes a house, is the rent concidered part of the estate?
The estate includes the house. The rental income is treated like dividends and interest - something the estate will have to file as income in the taxes, along with the deceased's last paychecks.
