CA client own a rental in Hawaii. Spouse passed in 2018. Do we step the entire basis per CA rules, or only 1/2 as property is situated in non-community property state?
CA client own a rental in Hawaii. Spouse passed in 2018. Do we step the entire basis per CA rules, or only 1/2 as property is situated in non-community property state?
Basis adjustment is made according to the rules of the state of residency of the decedent, not of the property.
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