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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 53667
Experience:  29 years of experience as a tax, real estate, and business attorney.
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When I die and my home of 42 years is sold by my executor does

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When I die and my home of 42 years is sold by my executor does the tax code require payment of capital gains tax on the difference between cost and current sale price? The gain is likely to be $900,000. My husband died two years ago. I live in So. California
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. No....upon your death, the basis of your house gets increased to its fair market value. Thus, when the house is sold for its fair market value, there is no gain and thus no tax. You need not worry!

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