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Reply to "Proceeds from mom's house"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You need to look up "step up basis". You want her estate to generate all the gains so you don't have to pay any taxes.[/quote] We decided to sell and eat the "step up basis"/ pay the capital gains since the house is old and difficult to maintain. None of us wants to renovate or deal with property mgmt/rental.[/quote] Are you the OP? [/quote]
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