In Illinois do I have to pay taxes on the sale of my late mothers house?

You are asking about either a capital gains tax; the rules regarding the sale of a main home (primary residence); transfer taxes; or a proration of real estate taxes. When it comes to real estate, consult with an attorney. Do not rely on a guess. Here are some articles to get you started. In the event you have any questions, please let me know.

Likely, there are no capital gains taxes due on the sale of the home. However, there are always possible issues. So, to be sure, either use an attorney that is aware of probate/real estate issues or ask a CPA before you close on the property. Good Luck!

If you received the real estate by will, then the you get a step up in basis to date of death. In such case there would be very little if any capital gains on the sale. Hope this helps. Please remember to designate a best answer to your question. Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is [email protected] , his website for more tax, estate and business articles is www.sjfpc.com. and his blog is