Tips to increase your chances of getting the Capital One mail offer
How to ensure you get a Capital One mail offerThe following four steps help ensure that you increase your chances of getting approved for a Capital One credit card.
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The bottom line is that if you inherit property and later sell it, you pay capital gains tax based only on the value of the property as of the date of death. Example: Jean inherits a house from her father George. He paid $100,000 for it over 20 years ago. Her tax basis in the house is $500,000.
Taxpayers in the 10 and 15 percent tax brackets pay no tax on long-term gains on most assets; taxpayers in the 25-, 28-, 33-, or 35- percent income tax brackets face a 15 percent rate on long-term capital gains. For those in the top 39.6 percent bracket for ordinary income, the rate is 20 percent.