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Deductions & credits
The value on the date of death. See, if you add them to the title now then when they eventually sell it they have to use your cost. If they inherit it they get a new cost basis at death.
So if you paid 50,000 and they sell for 200,000 the taxable gain would be 150,000
But if it was worth 150,000 when you die then their gain is only 50,000
So if you paid 50,000 and they sell for 200,000 the taxable gain would be 150,000
But if it was worth 150,000 when you die then their gain is only 50,000
‎June 3, 2019
10:40 AM