---

In MA is this considered a capital gain?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Guest	Posted: Sat Apr 17, 2010 6:52 am    Post subject: In MA is this considered a capital gain? Like 0 Dislike 0 I was made executrix of my brothers estate and also inherited property through his will. My lawyer had me as executrix sell the prperty to myself for condideration of a dollar. I was lead to beleive that this was how I could get my name on rhe deed. I then sold the prperty for $150,000.00. Do I have to pay a capotal gains tax? I live in MA. If I do have to pay a capital gains tax is there anyway to rectfy problem. My tax preparer calls this an inheritance.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Apr 18, 2010 9:48 pm    Post subject: Like 0 Dislike 0 Welcome Guest, If the property was in your name and if you sold off the property and received profits from it, then you would be liable for capital gains taxes. I would suggest to have a word with your tax adviser and take his opinion in this regard. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0