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The amount that is taxable is any gain from the value of the home on the date of death to the sales price. If there was no gain during that time, nothing is taxable. Any selling expenses can be added to the value on the date of death to increase the cost basis. The 1099-S must still be entered on the tax return. Any gain is taxed as a long term capital gain regardless what the holding time was.
The amount that is taxable is any gain from the value of the home on the date of death to the sales price. If there was no gain during that time, nothing is taxable. Any selling expenses can be added to the value on the date of death to increase the cost basis. The 1099-S must still be entered on the tax return. Any gain is taxed as a long term capital gain regardless what the holding time was.
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