Asked 8/6/2008
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Inheritance tax rate in Minnesota My elderly parents (85 & 87yrs) have already signed over their home to me and continue to live there. My daughter plans to live in their home while going to college and then some. If we want to sell the home later on at what rate will I be charged for capital gains? They bought the house for $13,000 in 1954 and now it's worth about 813,000. Or if I legally sign over the house to my parents now and get it upon their death. What is the rate of inheritance tax that i will have to pay?
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