TaxMonkey
Level 8
12-06-2019
11:23 PM
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Assuming the parent inherited the condo, they would receive a step in basis to the FMV on the day of death, this is determined by appraisal, although if the sale happened shortly after death using the sale price as FMV is reasonable. Yes when you sell real property as a non-resident you would generally file a non-resident tax return when that property is located.