Estate Tax-Federal Estate Tax

Julia asked:


My grandpa is a miser, and he has about three or four million saved up. My dad keeps saying that Obama’s estate tax will take away my inheritance when he passes away. The house my family lives in is also owned by him. Is what my dad said true? Please explain… Thanks.

Gabriella Forsythe

Pamela P asked:


I am selling my property myself to an individual and was unsure of the sales tax issue.

Dennis

shelli b asked:


Is it true for a married couple that we can realize a profit of up to $500,000 without being taxed with the “capital gains tax”? We plan to put the money back into another house (and we’re not even close to making the $500,000 anyway,). Thanks for any help you can give.

Gia Wescom

LMG asked:


In 2007 my grandmother died. I filed taxes for my grandparents, having listed her as deceased and included all rental property. However, all property was in her name and moved into an estate with a separate 706 being filed. In 2008 my grandfather passed away. I know I need to file a final tax for him but should I include the property even though it was not in his name. Or should the property be filed separately? I use a tax program and it included everything.

Pablo Mezo

george b asked:


what will the basis be on the assets transferred to my benefactors in 2010 as to the affect of question above?

Pamella Lorio