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Understanding Capital Gains for Real Estate
If you inherited a property and aren’t sure how to calculate your capital gains — here’s how it works. Let’s say you inherited a home in 2017 that was appraised at $310,000, and it’s now worth $620,000. Your basis starts at the fair market value when you inherited it — in this case, $310K. If you sell it for $610K and have $10K in ...
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