TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Question

I sold a property that was inherited in Florida and have capital gains tax question and step up

Forum|Forum|3 months ago
April 7, 2026
1 reply
36 views

No text available

TurboTax Online

Level 15

Inherited property receives a stepped up basis to the value on date of death.

The capital gains tax is always long- term for an inherited property. Your income will determine if your capital gains tax rate is:

0% - taxable income (not total income) up to $49,450 / $98,900 MFJ
15% taxable income to $545,500 / $613,700 MFJ
20% income above those limits.

You can subtract the expenses of selling the house to reduce the taxable gain.

Fl has no state or inheritance tax.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"