I inherited my brothers house after he passed...recording of deed took place a few mos later...do you have to pay inheritance taxes in virginia

[elainestratos-ya]

i lived for five years in brothers house and was only heir upon his death
iam selling the house...will i have to pay taxes

[Anonymous_ · Accepted solution]

Virginia has neither an inheritance tax nor an estate tax.

Further, since you have owned and used the house as your main home for (at least) two out of the last five years, you will likely not have to pay capital gains tax on the sale (unless the gain, measured by the difference between your selling price and the fair market value on the date of your brother's death) is greater than $250,000.

See https://www.irs.gov/taxtopics/tc701