Subject: Are capital gains applicable?
A person dies in 1995 and estate is settled within 5 years. Investment
property in which deceased had an interest sold 10 years after his death and
funds distributed to beneficieries this month, (approx $8,000. each) . US
beneficiaries will pay capital gains. I called RevCan who advised I don't
pay and not to even declare it on tax form.... hmmm?
As a Canadian resident, do I pay capital gains to USA on amount?
Thanks.
