All the information that can be found on the internet makes this issue confusing which is why I'm looking for what to do on the tax return from other accountants..  A web site by Susan M. Mooney, Esq. talks about the 2 forms of ownership but the question remains how IRS will treat this situation.  She says "The Remainder owner(s) automatically become owner(s) of the subject real estate immediately upon the death of the last to die of the Life Tenant Owner(s)."  She talks about the Life Tenant as being an owner "The Lifetime Owner of the property with absolute and exclusive right to use of the property during their lifetime, which expires automatically upon the death of the last to die of the Life Tenant(s)."  I don't know this woman and I don't know if she's correct.

Where did your explanation come from?