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Deductions & credits
Q. So i use the FMV at time of death for purchase price. Do i split the cost three ways when entering on tax return?
A. Yes.
Q. And split the sale price/ expenses three ways?
A. Yes, assuming an equal split of the gain? The probably comes if the 1099-S is only issue in one name. There are several ways to adjust that. The most common is to adjust that persons cost basis.
‎December 15, 2020
5:19 PM
8,131 Views