rferreira 1
Expert Alumni

Get your taxes done using TurboTax

You did not specify how long you lived in the house and if it was your primary residence.  Let's go with worse case scenario.  Your mother passed and you inherited the house.  Your basis in that house is the fair market value on the date you inherited it.  To that you would add any capital improvements you might have made.  This is now your adjusted basis.  You would subtract that amount from the amount you sell it for, minus closing costs, and this would be your capital gain on the house.

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