ReneV4
Expert Alumni

Get your taxes done using TurboTax

Thank you for the clarification. Since the account was solely owned by your father, you would not use the 50/50 Rule. 

 

Your mother is entitled to a 100% step-up basis (entire asset basis at FMV on date of his death). 

 

The 50/50 Rule would apply to jointly owned accounts, not to an account that was passed to her as an inheritance. 

 

This applies even if they filed a joint return.

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