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No, he's the TP's nephew. And TP is taking care of the mother, so no need for a nursing home thus far. It's all good. They're salt of the earth good people. Dow...
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He's a very long time client. His mother is very elderly and wanted to give it to her children. No one wanted it as they didn't want to be burdened with the upk...
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Well yes, that worked too.I entered the sales proceeds as $100K; basis as $46,522; adjustment to basis $326; selling expenses as $37,949 (gift of equity and clo...
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@TaxGuyBillThank you!!!!!!!!!Since TP didn't purchase the home, any need to add mother's cost basis, or can I leave the purchase price blank on the adjusted bas...
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And I thought I'd included all the details. Brain freeze!TP estimates the mother's cost basis is $40,500.TP has never lived in the home and didn't take on the m...
