Edith: Are we required to pay 28 percent capital gains taxes on a house we are selling?

The house was signed over to my wife and me in 2004 from my mother who is in a nursing home. The tax laws are so confusing that I am having trouble trying to decipher the answer. Please point me in the right direction. — D.P.W.

Answer: I'm assuming you don't live in the house. But did your mother retain life tenancy? Has the place been rented out since 2004? Did ownership change when yo ...

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