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Re: 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?
M-MTax
Level 12
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Deductions & credits
In that case, basis is determined by 1(ii), the transferor's adjusted basis.
That's right.
‎April 30, 2024
4:54 PM
