jacquette
Apprentice
Joined: 05 Sep 2006
Posts: 10
|
 Posted: 08/23/07 - 07:07 Post subject: |
 |
|
| My mother would like to sell a house she inherited several years ago. She had never lived there, but it was rented for several months, it was her income source; it was empty for one year, earlier. Now she is interested if she gets the 36 month exemption if she decides to sell it and what is the condition with capital gain tax? |
|
waldon
Apprentice
Joined: 07 Feb 2005
Posts: 18
|
| Posted: 09/26/07 - 23:57 Post subject: |
|
|
| It is important if house that your mother is trying to sell was inhabited by her, somebody close to her or if she was renting the house. That kind of house is, simply, not nominated as the residence where you, or your mother are living normally, it is not her official place of living. Therefore, official ownership is not, in this case, enough, maybe it would be if she could prove that she vas living there for some time after all, it does not have to be entire time of her owning the house, but it must be long enough. |
|
