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Capital gains on sale of a gifted house
Capital gains on sale of a gifted house My mother transferred the deed for her house to me for $1 in 2004. I just sold the house for $275,000. Is capital gains tax calculated from the house's value in 2004 to the 2024 sale price, or from $1 to the 2024 sale price? If the former, how is the value of the house in 2004 determined?
submitted by /u/mpompe
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