my dad moved south and transferred his condo in NY into my name. He was thinking he was going to rent it but decided he doesn't want to. He said I should sell it and keep the money from the sale.
My question is for tax purposes what do I need to plan for. He bought it 15 years ago for around 100k. It's worth 200k now.
He remodeled the kitchen and paid $600 a month in condo fees while he owned it. What type of capital gains hit am I looking at?
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/zx2mnq/tax_question/
Comments
Post a Comment