Thanks for following up. You will have no tax
impact. Minnesota has no inheritance
tax. And, the estate has no tax because it is under the Federal
exemption amount of $5,250,000 and under the Minnesota exemption amount of $1,000,000. Your basis in the house will be increased ("stepped up") to its fair market value as of the date of death; so, if you decide to sell it there will be no gain on the sale unless it later appreciates after death. And, because there is no gain, there would be no tax due on the sale either.
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate
me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit
for helping you today. I thank you in advance for taking the time to provide me a positive rating!