I have a client where the dad let them live in the property since 2005, in 2022 he signed a grant deed and was recorded. The client sold the property in 2022, now what is her basis?
Is it the same as the dads when he bought it in 2003, our the FMV at the date transfer by grant deed?
I have a client where the dad let them live in the property since 2005, in 2022 he signed a grant deed and was recorded. The client sold the property in 2022, now what is her basis?
Is it the same as the dads when he bought it in 2003, our the FMV at the date transfer by grant deed?
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On Mar 28, 2023, at 11:47 AM, Steven Meyerson <smeyer...@gmail.com> wrote:
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If the dad was married and his spouse passed away between the time of purchase and the granting of the deed to your client, you also have a step-up or step-down to factor in.
Matthew Bigelow, E.A.
JLZ Business Services, Inc.
Ph. (805) 643-3295, Fax: (805) 643-3297
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On Mar 28, 2023, at 12:26 PM, Matthew Bigelow <mbig...@jlzinc.com> wrote:
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