Core Viewpoint - The article discusses the taxation implications for individuals selling inherited properties, emphasizing the conditions under which personal income tax is applicable and providing a detailed example of tax calculation [3]. Taxation on Inherited Properties - If the conditions for exemption are not met, personal income tax must be levied based on the verified method. The taxable amount is calculated as: Taxable Amount = Taxable Income × 20%, where Taxable Income = Current Value of the Property - Original Purchase Price by the Deceased + Related Taxes and Reasonable Expenses [3]. - An example is provided where a woman inherits a property and sells it for 3 million yuan, with the original purchase price being 1.5 million yuan and additional costs totaling 0.1 million yuan. Since the property was not held for more than 5 years and is not the only family residence, she is liable for personal income tax amounting to 280,000 yuan [3]. Policy References - The article cites several policy documents that outline the tax regulations regarding the sale of residential properties, including: 1. The Ministry of Finance and the State Administration of Taxation's notification regarding personal income tax on the sale of residential properties, which states that properties held for over 5 years and considered the only family residence are exempt from tax [3]. 2. The State Administration of Taxation's guidelines on the taxation of property transfers, defining the criteria for what constitutes a family's only residence [3]. 3. Regulations concerning the tax implications of receiving property as a gift, which are also relevant to the discussion of inherited properties [4].