Thank you for your guidance.
Yes, you are right about my situation.
When the home sale has a step-up in home price, in TurboTax,
1. In the page "Adjusted Cost basis of your home": For the date bought or acquired, should I enter the original purchase date or the date of the decedent's death?
2.In the Adjusted Cost Basis Easy Guide: For Original Value, should I enter the original purchase price or the fair market value of the home on the date of the decedent's death?
When I click on the "Cost" explanation, it sounds like it says to enter fair market value. Am I correct?
Do the home improvement, purchase, and selling expenses apply 100% to the cost basis or about 30% to 60%?
Thank you,
