If my mother sells or gifts me her $800,000 personal residence to me, my understanding is that I also get her adjusted cost basis. If she holds a note for 100% of the purchase price and then gifts me ...

Suppose you sell your primary home and make a $750,000 profit. Will you owe capital gains tax on that profit? The short answer is yes. Depending on a handful of factors, you may owe tens of thousands ...