my friend's mother died in 2011 and left the house to him. It's worth about 180k.
Does he have to pay income taxes on this?
Answer
No. And if there were no other assets, there will be no federal or NYestate tax either.
my friend's mother died in 2011 and left the house to him. It's worth about 180k.
Does he have to pay income taxes on this?
No. And if there were no other assets, there will be no federal or NYestate tax either.
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