If a house is sold in an estate and sold for less than the appraised value will capital gains be owed by the estate?


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I am not a tax professional, but I can try to provide some general information.

When a house is sold for less than its appraised value, it may result in a capital loss. In general, capital gains or losses are typically attributed to individual taxpayers, not to estates. However, there might be some exceptions or specific rules depending on the jurisdiction and the specific circumstances of the estate and the sale.

If the estate is considered a seller in this case, it is possible that the decreased sale price could result in a capital loss for the estate. It's advisable to consult a tax professional or attorney who specializes in estate tax laws to fully understand the tax implications in your particular situation.

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