Monday, December 19, 2011

My mom sold my grandma's house back in march does she have to pay any taxes on her income tax this year?

ok my mom sold my grandma's house she had lived with my grandma for 27 years until moving out in 1997. She sold the house for 60,000 dollars. so does she have to pay income tax on it or does the 250,000 gain exemption apply to her?

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