I have a client whom he received a house from his elderly parent as a gift.  The date of transfer was on November 2018.  Then my client sold the house on June 2019 for 200k.  The original basis of the house is 30k when his elderly parent bought it in 1975.  So will the original basis be carried over to my client at 30k?  This mean my client will have 200k - 30k = 170k of capital gain?

I do understand that if my client's elderly parent sold my client the house, then the sale price will be the adjusted basis for my client.  But in this case it was transfer the title over to my client's name without any money being involved and I don't think using the FMV of the house on November 2018 as basis is accurate.  Could you please give me some thoughts on this?

Thank You