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Updated over 3 years ago on . Most recent reply

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Derek Scott
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Capital Gains Tax Question

Derek Scott
Posted

Hi, I have a motivated seller ready to sell his Mom's house in Texas. She hasn't been in the property for 5 years and has been in an assisted living facility. The property has been rented out for that period of time. Will she have to pay a capital gains tax on her property if she sells before passing away(Mom is 89)? Trying to help the seller avoid taking a tax hit, but I also want to purchase the property. This will my primary residence and he mentioned rent-to-own until Mom passes on. Thanks for your thoughts in advance!

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Replied

I completely agree, seller finance is the best way to go on this one.

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