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Posted on 31 July 2023

πŸ“œπŸ πŸ’° Selling an inherited property: How to declare and manage it?

Inheriting a property can be advantageous πŸ’Ό, but how do you manage the sale without too much tax? πŸ πŸ’°
1️⃣ Speculation or disposal profit?
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Speculation: If you sell within 2 years of purchase, it's a short-term investment πŸ‘€
Disposal: After 2 years, it's considered a profit on disposal πŸ“†
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2️⃣ What allowance is there for inheritance?
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75,000 allowance if the inherited property was the parent's main residence πŸ‘ͺπŸ’Ό
Up to a further 50,000 euros if not used in the last 10 years πŸ“…
3️⃣ How is the capital gain taxed?
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After deductions, the capital gain is taxed at half the overall rate (max. 21%) πŸ’°
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No need for complicated calculations! File your tax return on taxx.lu and that's it! πŸ“πŸ’Ό
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#inheritance sale 🏠 #increased value πŸ’° #tax relief πŸ“‰ #tax return πŸ“ #taxx.lu πŸ–₯️ #Luxembourg πŸ‡±πŸ‡Ί

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