Mom gave me & each of my siblings 3 acres each - they chose to build their primary residences on the land so that is why mine is different....I sold the land after she passed away. Her house and 3 acres are on the market but still in the estate.
Mom sold/gave my 3 acres to me in 2015 that's why we thought the beginning point would be the fair market value on that date - subtracted from the $190,000 i sold it for. (?)
My tax attorney is sourcing out his 'research' to his 'real estate team' & others so when we last spoke he seemed like he was making up things on the fly.
If we end up paying close to $25,000 in captial gains & another $2,000+ for attorney fees i want to be positive that it gets filed correctly.
Thank you for helping me understand this complicated situation.
Thanks for you help.
