- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV?
The house was in disrepair and we renovated it. I know I can add the FMV, renovation costs, and realtor/broker commission when calculating the cost basis for the home, but can I add the amount I spent buying out my brother and sister to take full ownership of the house?
Topics:
‎April 27, 2024
11:29 AM