Question
FMV from a long time ago / Sell of a house
Hi online community, I have a client (single) who sold his main home in December 2021. He inherited the house 25 years ago from his mother. He sold the house for 515000. Because he inherited the house, it is my understanding that he will get a stepped up basis equal to the FMV of the house the day prior to the death of his mother. His mother died 25 years ago. How or where we can find information about the FMV the day prior to his mother death 25 years ago. I asked the client but he can not tell. Thank you. Your thoughts will be appreciated.
