Will I pay capital gains on cash paid to me by my sister for my 50% of the inherited house appraised value?

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No, your basis should be equal to 50% of the appraised value. You will still need to report of Sch D, but will owe no tax.

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No, your basis should be equal to 50% of the appraised value. You will still need to report of Sch D, but will owe no tax.

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