A house was left to my mother [83] appraised at 35,000 does she have to file taxes?

Question

her income is 700.mth

Answer 1

NO, unless she had other taxable income. The inheritance is free of Federal Tax (provided it came from an estate of less than $1,500,000-in which case th estate would owe the tax, not Mom). She may have to pay tax on any gain if she sells the house. If it was worth $35K when she got it but she sells it for $50K, then there would be a $15K gain subject to capital gains tax and it would go on Schedule D. If she rents it out, she will have taxable income. Also, she may owe property tax to the state or county.

Answer 2

Inheritances are not income and no income tax is due on the value of the property at the time it was inherited.

If your mother just now inherited the house there is no tax. If she inherited some time ago, say when it was worth $20,000, and now it is worth $35,000 and she sells it, then she may owe tax on the gain since she inherited it.

The tax on the gain will depend on whether she lived in the house, rented it, or did neither.

Answer 3

I'm not a tax consultant, but I would think that there is an inheritance tax due. Check with both the state tax bureau, and the IRS, for the proper information. Or consult an accountant who does tax work.