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I sold my mother's house in late 2015, my name was on title…

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I sold my mother's...

I sold my mother's house in late 2015, my name was on title of the house which she purchased in 1969, can i assume or bring the property tax bracket with me if i purchase another home?

Accountant's Assistant: The Expert will know how to help. Is there anything else important you think the Expert should know?

I don't think so, i really not sure what i'm doing, lol !

Submitted: 7 months ago.Category: Tax
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10/4/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 7 months ago
Tax.appeal.168
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Hello. Thank you for choosing this Q&A service for assistance. My name is Angela. I will be assisting you.

Q: can i assume or bring the property tax bracket with me if i purchase another home?

Please clarify what you mean by property tax bracket. Generally, tax brackets are determined by filing status and the amount of income a person earns. Are you referring to state property taxes? Please clarify what you mean.

In general, the sale of one property has no effect on the purchase of another, unless it is a Section 1031 Exchange. Nothing is transferable, at least not on the federal level, and quite possibly, not the state level either.

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