Hi all,
Thank you for the responses. My question is focused specifically on the adjusted cost basis of the home; I don't have questions about the personal deductions for taxes paid, etc.
It sounds like the state assistance program is commensurate to a tax lien such that the balance may be considered back taxes. If so, it sounds like there's no basis adjustment. Moreover, I believe the step-up in basis only steps up half of the property since it was held in joint tenancy with me.
Thank you
