11Buster
Level 4
06-15-2022
05:04 PM
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CA husband and wife own their principal residence as community property. Husband dies. Does wife get step up only to FMV at DoD on his 50% ownership in property or 100% of the property FMW? What about if held as joint tenants?
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TaxGuyBill
Level 15
06-15-2022
05:42 PM
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California is a Community Property State, so it is a full step up.
sjrcpa
Level 15
06-15-2022
07:49 PM
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If not community property and joint tenancy then the step up is 50% (on deceased's portion only).
The more I know the more I don’t know.
