Google Answers: Fair Market Capital gain

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Q: Fair Market Capital gain ( No Answer, 0 Comments )

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Subject: Fair Market Capital gain
Category: Family and Home > Home
Asked by: tracy45-ga
List Price: $10.00

Posted: 02 Dec 2005 04:15 PST
Expires: 01 Jan 2006 04:15 PST
Question ID: 600459

IRS capital gain for a house that was sold in March 2004 in
Massachusetts and had three owners one of which passed away in Jan
2003.  What would be the fomula for the capital gain.   The house was
sold for 523,000.00 and the apprasial that I just received for Jan
2003 was 430,000.00.   I do not understand the fair market value law
for capital gain.

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