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Inherited house inclusion in taxable income

Posted 3 September 2013 under Tax Questions



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Do you include an inheritance of a house when calculating taxable income before you dispose it?

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TaxTimTaxTim says:
3 September 2013 at 23:41

If you inherited a house then there is no tax on the actual inheritance, however the value of the house on the day you inherited it will be the base cost for Capital Gains Tax purposes when you dispose of it and this will be taxed.


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