Legal Question in Tax Law in Virginia

How much in taxes do you have to pay if a house is left to you in a will and then sold - 15% of the sale price?


Asked on 11/19/09, 8:41 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Assuming that you would get the so--called stepped up basis for tax purposes that comes with property that is inherited (as opposed to gifted), you might owe no taxes at all on it, given current market conditions.

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Answered on 12/03/09, 8:24 pm


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