joodle56
New Member

How do you figure cost basis for an inherited house that you had to pay siblings for?

This was my childhood home.  I was "quit claimed this property from my parents trust, by my sister, who was the executor, because my sisters didn't want the home, they wanted their share of the value.  We then put this house into service as a rental home. Now are trying to figure out the cost basis and get it correct from the start.  We did not live in it since we got it. How do we figure the cost basis?