Level 15
03-28-2022
09:48 AM
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So his and the fathers name was on the deed at the time the father died? So he only inherited half of the property.
You wont get full stepped up basis then, only on dad's half. Your clients half will still have the original basis, plus any improvements.
There may very well be gain on the sale.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
You wont get full stepped up basis then, only on dad's half. Your clients half will still have the original basis, plus any improvements.
There may very well be gain on the sale.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪