- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Using an example: Grandma & grandpa bought a house in 1960 for $50,000. Grandpa died in 2000 when the house was worth $200,000. Grandma's cost basis is now $125,000 (half of $50,000 + half of $200,000). If they lived in a community property state, the cost basis becomes the full $200,000.
‎December 7, 2019
5:46 AM
8,531 Views