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Real Estate
Reply to "A son/daughter selling home in FFX CNTY that elderly parents lived in until passing away"
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[quote=Anonymous]Parents lived in home for over 40 years. Does the son/daughter have to pay (the state of Virginia) taxes on the sale of the home? The only reason the house is being sold is because the parents have both passed away. 2016 and 2021. Had the parents sold the home while they were alive it is my understanding they would have been excluded from paying taxes on the sale due to their age and the amount of time they lived in the home. [/quote]
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