Phoenix - Your AI AssistantCapital Gain Tax
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- Proposals: 7
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- #3452742
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Telford 
Description
Experience Level: Expert
I need assistance completing a Capital Gain Tax computation.
I am gifting a property to my Stepson. I have the full purchase figures, capital improvements and a recent valuation.
I have owned the property jointly with my husband since Sept 2011 and it has been rented since that time. We have never lived in the property. My husband died in January 2020 , I have obtained probate and the property in now in my sole name.
Whilst I understand the tax implications I am unclear of the gain proportions due to part ownership originally and now full ownership.
I am gifting a property to my Stepson. I have the full purchase figures, capital improvements and a recent valuation.
I have owned the property jointly with my husband since Sept 2011 and it has been rented since that time. We have never lived in the property. My husband died in January 2020 , I have obtained probate and the property in now in my sole name.
Whilst I understand the tax implications I am unclear of the gain proportions due to part ownership originally and now full ownership.
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