16 Aug 2024 10:47 am
one inherited a property inflation has added 10 times the value it had when purchased by those one inherited it from. 50% goes to federal funds, 7-15% goes to real estate broker, county and local taxes get their cut from seller and buyer forward leaving 30% to the family that inherited it.walkingstick » 16 Aug 2024, 10:37 am » wrote: ↑ you are close. say you bought the home in 2016 and sold in 2024. and the national inflation rate on everything was 19% over those years. and you had a capital gain of 29% on the house you sold. there should be a 50% capital gain on the 10%. due upon closure of sale.
Isn't humanity great at embezzling ancestral biological time away from the ancestors themselves.