Posted on 31 July 2023
ππ π° Selling an inherited property: How to declare and manage it?
Inheriting a property can be advantageous πΌ, but how do you manage the sale without too much tax? π π°
1οΈβ£ Speculation or disposal profit?
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Speculation: If you sell within 2 years of purchase, it's a short-term investment π
Disposal: After 2 years, it's considered a profit on disposal π
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2οΈβ£ What allowance is there for inheritance?
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75,000 allowance if the inherited property was the parent's main residence πͺπΌ
Up to a further 50,000 euros if not used in the last 10 years π
3οΈβ£ How is the capital gain taxed?
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After deductions, the capital gain is taxed at half the overall rate (max. 21%) π°
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No need for complicated calculations! File your tax return on taxx.lu and that's it! ππΌ
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#inheritance sale π #increased value π° #tax relief π #tax return π #taxx.lu π₯οΈ #Luxembourg π±πΊ
