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Subject:  Re: Capital gains tax for an estate? Date:  7/6/2012  12:40 PM
Author:  Wradical Number:  116404 of 130427

Yes, the house is still in my mom's name. The estate has filed tax returns each year and paid property taxes. After closing, the final tax return will be filed and the assets distributed. Per the will, the assets will be equally distributed to the heirs.

In this case, as the next return will probably be the final return, the estate won't pay capital gains tax but the heirs will? Surely the estate and the heirs wouldn't both pay capital gains tax on the same asset?

Thank you.


Correct. The estate gets a deduction for the distributed/distributable amounts.

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