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For capital gains - what is the cost-basis for property in a Life Estate that transfers to the Remainder Owner when the Life Tenant passes and the Remainder Owner sells?
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March 26, 2021
7:07 PM
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Deductions & credits
Your Cost Basis in the Life Estate would be the FMV when the Life Tenant passes.
Click this link for more info on Tracking Cost Basis.
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March 26, 2021
8:47 PM