I was 1/3 beneficiary to my mothers condo when she passed July 2021. It was sold below appraised value for cash September 2021. Do I pay capital gains tax (NH)? What documents do I need to file with my taxes?
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1 Replies
ColeenD3
Expert Alumni
Jan 26, 2022 2:27:50 PM
You would pay tax on your 1/3 of the gain if any. Enter the sale information in the Investment section, as a second home.
Your basis is the Fair Market Value on the date of your mother's death.