Hello again.
Revisiting this topic as now it is time to file taxes on the gifted property I sold.
Does FMV at the time of gift have any relevance/value? At time of gift, my mom's stepped up basis was 250,000. The FMV when she gifted it to me was 460,000. If I understand correctly, my basis is her basis, and unfortunately, it is not the FMV at time of gift.
Thank you so much!
