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Inheriting a House? Here's What You Need to Know About Taxes
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Inheriting a home can feel like a blessing, until the tax questions start piling up. John walks through the playbook for handling inherited property the smart way. This big financial decision deserves careful thought and consideration, not quick reactions. When it comes to inherited real estate, you don't want to move without a game plan.
Here's some of what we discuss in this episode:
📈 Step-Up in Basis: Resetting value at inheritance
💵 Fair Market Value: Why timing matters
🧾 Capital Gains Impact…
The skinny
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