Usually little to none, if you sell reasonably soon after inheriting. Under the IRS step-up in basis rule, your cost basis in an inherited house resets to its fair market value on the date the original owner died, rather than what they originally paid decades earlier. Capital gains tax is only owed on appreciation above that stepped-up value, so if you sell close to that value, there's often little or no taxable gain.
How the step-up in basis works
Here's the idea with real numbers: say a parent bought a house decades ago for $60,000, and it's worth $400,000 at the time they pass away. As the heir, your cost basis becomes $400,000 — not the original $60,000 purchase price. If you sell shortly after for $410,000, only the $10,000 above that stepped-up value is potentially taxable, not the full $350,000 of appreciation that happened over the original owner's lifetime.
What can still create a taxable gain
A gain can still show up if the house appreciates further between the date of death and the date you sell, or if you hold onto the property for a while first — for example, renting it out rather than selling right away. If you eventually move into the house as your primary residence and sell later, different exclusion rules can apply on top of this.
This is general information, not tax advice
Every estate's numbers, holding period, and available elections are different, and tax rules can change. A CPA or tax professional who can look at the specific appraisal, date of death, and sale price is the right person to confirm what you'll actually owe, if anything.
This is general information, not tax or legal advice. Talk with a CPA or tax professional about your specific situation before making decisions based on estimated numbers.