1 Thought on Is inheritance money from the sale of a house taxable?
  1. Reply
    Jo Blo
    July 29, 2013 at 7:05 am


    if your husband inherited the house in 2005 and sold it in 2007, and the value of the house went up during the time he owned it, then he would pay tax on the gain in value from the time he inherited the house until the time it was sold.
    He could deduct expenses of selling the house and any fix up he did before selling such as paint carpet, etc.
    If the value didn’t go up, there would be no gain and no tax to pay.

    If your husband was just given the money as an inheritance, if he never owned the house,, there is no tax due.

    Leave a reply

    Register New Account
    Reset Password