Description
Easily estimate capital gains taxes on inherited property sales with our Primary Residence Sale Tax Estimator.
This user-friendly Excel spreadsheet is designed for individuals who inherited a home and want to accurately calculate the taxable gain on a future sale. Whether the property has always been your primary residence or was used as a rental for a period of time, this tool helps you understand your eligibility for the IRS Section 121 exclusion, estimate depreciation recapture, and project potential tax liabilities at both federal and state levels.
Key Features:
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Built-in logic to account for stepped-up basis on inherited property
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Automatically calculates estimated capital gain based on sale price, selling costs, and renovation expenses
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Optional inputs for depreciation and rental history to calculate recapture
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Includes sample scenario with a California-based inherited home
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Section 121 exclusion estimation (full or partial) based on your use history
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Ideal for CPAs, estate administrators, heirs, real estate professionals, and tax preparers
No complicated software required—just open the spreadsheet in Excel, input your numbers, and receive instant clarity on your tax outcome. This tool helps reduce confusion and prepare you (or your clients) with solid tax insight before making major financial decisions.
Instant digital download – start planning today!
