hmosbergea
Level 3

Court Judgment of Possession took 10 years for Beneficiary to receive title to inherited property:

Home (vacant for the 10 years).FMV at dod =$130,000.

Sold for $200,000.

New Question!

Can any of the $60,000 (never deducted by the estate) paid by the Bene during the 10 years of contestment be added to basis as capitalized legal costs?

Legal expenses related to acquire, perfect, defend, or clear title to property are capital
expenditures.

0 Cheers