topic If a property is inherited and the inheritor has and still intends to live in said property, does the capital gains tax still apply? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-a-property-is-inherited-and-the-inheritor-has-and-still-intends-to-live-in-said-property-does-the/01/914971#M3122 <P>The property has been the inheritors principal residence for many years.</P> Wed, 30 Oct 2019 17:23:38 GMT bri-anne_white 2019-10-30T17:23:38Z If a property is inherited and the inheritor has and still intends to live in said property, does the capital gains tax still apply? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-a-property-is-inherited-and-the-inheritor-has-and-still-intends-to-live-in-said-property-does-the/01/914971#M3122 <P>The property has been the inheritors principal residence for many years.</P> Wed, 30 Oct 2019 17:23:38 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-a-property-is-inherited-and-the-inheritor-has-and-still-intends-to-live-in-said-property-does-the/01/914971#M3122 bri-anne_white 2019-10-30T17:23:38Z Capital Gains taxes apply to all properties subject to th... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/capital-gains-taxes-apply-to-all-properties-subject-to-th/01/914972#M3123 <P>Capital Gains taxes apply to all properties subject to the owners ability to qualify for the Principal Residence Designation. The inherited property will be transferred to the beneficiary at an Adjusted Cost Base (often the fair market value on the date of death) for the purposes of determining future Capital Gains.&nbsp; The ACB should be determined by the Estate and reported on the final return or optional tax return of the deceased.</P> Wed, 30 Oct 2019 17:23:39 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/capital-gains-taxes-apply-to-all-properties-subject-to-th/01/914972#M3123 TurboTax-Terry 2019-10-30T17:23:39Z
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topic If a property is inherited and the inheritor has and still intends to live in said property, does the capital gains tax still apply? in Investors and rental owners
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-a-property-is-inherited-and-the-inheritor-has-and-still-intends-to-live-in-said-property-does-the/01/914971#M3122
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<P>The property has been the inheritors principal residence for many years.</P>
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<pubDate>Wed, 30 Oct 2019 17:23:38 GMT</pubDate>
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If a property is inherited and the inheritor has and still intends to live in said property, does the capital gains tax still apply?
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-a-property-is-inherited-and-the-inheritor-has-and-still-intends-to-live-in-said-property-does-the/01/914971#M3122
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<P>The property has been the inheritors principal residence for many years.</P>
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Capital Gains taxes apply to all properties subject to th...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/capital-gains-taxes-apply-to-all-properties-subject-to-th/01/914972#M3123
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<P>Capital Gains taxes apply to all properties subject to the owners ability to qualify for the Principal Residence Designation. The inherited property will be transferred to the beneficiary at an Adjusted Cost Base (often the fair market value on the date of death) for the purposes of determining future Capital Gains.&nbsp; The ACB should be determined by the Estate and reported on the final return or optional tax return of the deceased.</P>
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<dc:date>2019-10-30T17:23:39Z</dc:date>
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