Hi
My parents are looking into selling their former home and we are trying to decipher potential CGT. Details are:
House was PPR of mother from birth (1940's) and then both parents after marriage from late 1960's to 1980.
House was passed from grandparent to mother (grandparent died in early 1970's)
House was never sold/purchased outside of mothers family since being built approx 150 years ago, always passed down to family members through the years.
Parents moved to new house in 1980 and rented out original home since then, albeit under the radar.
We are wondering is the full gain liable to CGT, after any provable improvement costs, the €1270 exemption and costs associated with selling.
Any advice appreciated.
My parents are looking into selling their former home and we are trying to decipher potential CGT. Details are:
House was PPR of mother from birth (1940's) and then both parents after marriage from late 1960's to 1980.
House was passed from grandparent to mother (grandparent died in early 1970's)
House was never sold/purchased outside of mothers family since being built approx 150 years ago, always passed down to family members through the years.
Parents moved to new house in 1980 and rented out original home since then, albeit under the radar.
We are wondering is the full gain liable to CGT, after any provable improvement costs, the €1270 exemption and costs associated with selling.
Any advice appreciated.