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Deductions & credits
It's my understanding that (in CA) if you hold the title as joint tenants with right of survivorship the stepped-up basis is not subject to the 50% rule. However, I am entitled to a $250,000 exclusion on top of the basis but I can't find where to enter it. The program is telling me that I am not eligible for the exclusion. And when I went to the forms I found all the questions were filled out wrong. I fixed them but I still can't figure out why I don't get the $250K that I am entitled to.
March 27, 2021
5:29 PM