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Sulekha community - Advice from neighbors and local experts

Raj asked
Hi, I have a question for tax filing for my mom who is an Indian citizen and green card holder. We are planning to sell her house in India. This was bought in 2XXX, and gifted to her in 2XXX by the original owner. When selling in India, since the cost basis is adjusted for inflation, the long term capital gains (LTCG) isn’t much, and she is planning to invest that amount (LTCG) in bonds. Her US tax situation is a little less clear. In US it seems the inflation is not taken into account for cost basis. Also, not sure what documents she will need on hand to file the taxes; I assume the sale deed will be needed, will she need the gift documents or the original owner document? Will the cost basis be the gifted amount or the amount the original owner paid?
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