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I recently had my mother's house transferred into my ...

Sent to Tax Experts November 18 03:39 PM

I recently had my mother's house transferred into my name for the purpose of selling it. She originally had a life estate on the house. Do I have to pay capital gains on the full sale price of the house because I actually paid $0 for the house, or do I get to subtract the original purchase price that my mother paid from the sale price and pay capital gains on that amount?

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