If a person did not have an income for 2018, but sold a property they inherited, do they need to do taxes?

melsoko69 · ‎June 1, 2019

AlanT · ‎June 1, 2019

Unfortunately, yes the person would have to report the sale of the inherited property. The sale could produce a capital gain depending on the amount of proceeds received from the sale and the person's adjusted basis in the property.

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AlanT · ‎June 1, 2019

Unfortunately, yes the person would have to report the sale of the inherited property. The sale could produce a capital gain depending on the amount of proceeds received from the sale and the person's adjusted basis in the property.

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If a person did not have an income for 2018, but sold a property they inherited, do they need to do taxes?