One of my client sold inherited plot its acquisition value not available how to calculate capital gain
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inherited plot sale how to capital gain
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The person who purchased the property before inheritance ,cost which is incurred by that person will be considered as cost of acquisition for computing capital gain of the person who sold the property
The long term capital gain will be taxed at the rate of 20 % . find the difference between what you paid for your property and how much you sold it for—adjusting for commissions or fees. Depending on your income level, your capital gain will be taxed federally at either 0%, 15% or 20%.
he don't know the aquisition value of property
if that person does not know the acquisition value then consider fair market value
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