Tax liability

Rebel1961 · 2016-08-08 10:50:04

Hi I inherited my mother's house in her will.My brother who was living there passed away last year.My mothers estate passed on to me.I am selling it for 220k.I have lived in private rented accommodation in Dublin from 1993 to 2013.In 2013 I bought a hose in Cork.Despite living in private rental accommodation, I went home…

08-08-2016 11:50AM

#1

Rebel1961

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Hi I inherited my mother's house in her will.My brother who was living there passed away last year.My mothers estate passed on to me.I am selling it for 220k.I have lived in private rented accommodation in Dublin from 1993 to 2013.In 2013 I bought a hose in Cork.Despite living in private rental accommodation, I went home to my mother's house regularly. I did not own any property til 2013.Am I subject to tax?Opinions welcome, thanks.

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#2 08-08-2016 11:52AM

shansey

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you can inherit 280k from your parents tax free. This includes gifts of over 3k during their lifetime.

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#3 08-08-2016 12:31PM

Boards.ie: Niamh

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Moved to Taxation.

How can I? User's guide to some features on the new site

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