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Author: karenlj Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121181  
Subject: Capital gains tax for an estate? Date: 7/5/2012 2:40 PM
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My mother died 4 years ago. We're finally selling her house in Texas, which is worth quite a bit more than when she died and one heck of a lot more than when she and my dad bought it. The house is still part of the estate, which has not yet been closed.

How is this profit handled? Does the estate, with no income, pay capital gains tax? Does it pay tax on the profit from date of purchase or profit from date of death? Or do the heirs pay tax on the profit from date of death?

I've done some searching on Google, but have found too many possibilities and no answers.

Thank you.

Karen
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