Paying taxes when selling a property
June 29, 2013 | 25,00 EUR | answered by Steuerberater Thomas Textoris
Dear Sir or Madam,
In 2011, our parents transferred ownership of our family home to my sister and me with a usufruct. Our parents passed away at the end of 2011 and in early 2013, but they both lived in the house themselves for 50 years until their passing. The house is now to be sold (sale amount: €140,000 / 2).
I am currently receiving unemployment benefits and am undergoing a retraining program that will last until 2015. Neither my sister nor I have lived in the house ourselves in the past 10 years.
Kind regards,
Sandra
My question: Do I have to pay taxes, and if so, how much? (Annual net income from unemployment benefits: €10,344)
Hello Sandra,
As part of an initial consultation and taking into account the regulations of this forum, I would like to answer your question regarding your fee.
In principle, a private sale transaction according to § 23 of the Income Tax Act (EStG) would need to be examined here. Due to the transfer of the house in 2011, the acquisition of the house by your parents is attributed to you (§ 23 (1) sentence 3 EStG). According to your information, your parents lived in the house for 50 years. I assume that the acquisition took place accordingly 50 years ago. The sale would therefore be well outside the relevant 10-year period of § 23 (1) No.1 EStG.
Therefore, you would not have to pay any taxes.
Best regards,
Thomas Textoris
Tax consultant
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