Inherited House? Tax Owed Now | Ireland News

Inheriting a house doesn’t mean you’re off the hook from Capital Acquisitions Tax—tax obligations often kick in as soon as probate is granted, not when you sell. If probate comes early in the year, you’ve got just eight months to file and pay, or face penalties. Don’t wait to sell to avoid tax; talk to Revenue early to set up payment plans. Also watch out for Capital Gains Tax if the house sells for more than its value at death—and be aware that cash from other estate assets can cover the bill even before the property hits the market. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ad14ea424ca51260