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Updated about 5 years ago on .

User Stats

67
Posts
9
Votes
Henry Li
  • Realtor
  • Boston MA
9
Votes |
67
Posts

sale tax for property gifted from parents

Henry Li
  • Realtor
  • Boston MA
Posted

Let's say my parents bought the house 200k many years ago, the house is worth 300k today. If they sell the house now, it would be tax free because they live there for years and the gain doesn't exceed the limit.

The question is, if they gift the house to me today while the house is worth 300k. And a couple years later, let's say the house worth 320k, how much capital gain tax do I have to pay?   

thank you = )