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Get your taxes done using TurboTax
@Romni22 wrote:.....I thought there was some kind of informal guidance that said sales within a certain period of time (6 months?) could be used to establish the estate's basis in the property.
There is nothing that has been articulated (formal or informal) in terms of a time frame, other than the 6-month alternate valuation date (which does not apply here and which some people also confuse with sort of a general rule the IRS follows, which is not the case).
‎November 7, 2021
4:56 PM
14,680 Views