@SBA wrote:
On this same subject of selling inherited house, does the capital gains tax exemption of $250k or $500k come into play?
The Section 121 exclusion is generally inapplicable and also not typically needed since property acquired from a decedent receives a stepped up basis to the fair market value on the date of the decedent's death per Section 1014. As a result, there is usually very little, if any, gain provided the house is sold within a reasonable amount of time after death.
