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Good afternoon. You would not qualify for the 2-year rule. Since your mother gifted the property in 1992, the value at her death is irrelevant. The applicable number is XXXXX her basis in the property was plus any improvements you made subsequently. Then you would owe capital gains tax on one-half (your share) of the $63,000 less the basis as calculated as previously mentioned. Your capital gain rate is zero is you are in the 10% or 15% marginal income tax rates. Otherwise your capital gain tax rate is 15%.
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.