Mary M
Level 2
03-29-2022
09:20 AM
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How was it titled? Quick claim deed 2019 no cost just transfer.
Joint w/ right of survivorship? Yes
Tenants in common? No. Joint Tenants with right of survivorship.
Transfer on death? IDK? Right of survivorship.
How much of the property was included in Mr. Smith's estate? None
What was shown on the Probate filings? No probate for this property.
Your client's basis may be Mr. Smith's basis, = 88k purchase in 2018?
or it may be a portion of Mr. Smith's basis and a portion of the dod value (135k). Not sure what to use still as cost on sale. Am I missing something obvious here?
Help! Thanks SOOOOO much!!