Yes, you can sell a property that you have received as a gift. However, you will need to pay capital gains tax on any profit you make from selling the property.
The amount of tax you pay will depend on how long you have held the property. If you have held it for more than two years, then you will be eligible for long-term capital gains tax which is lower than short-term capital gains tax.
It’s important to note that if you sell the property within two years of receiving it as a gift, then you will be liable to pay short-term capital gains tax which is higher than long-term capital gains tax.
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Can I sell the property, after I receive it as a gift?
Meherunnisa
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2023-06-20T09:05:34+00:00 2023-06-20T10:30:26+00:00Comment
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