Inheritance capital gains from sale of inherited real estate. How to determine FMV? I have 2 market analysis docs from 2 different parties.
My mom passed away on March 30, 2016 and I was the executrix. I sold her house in December, 2016. How do I determine house FMV for the purpose of determining basis for capital gain/loss? I have 2 market analysis documents from March/April 2016.
It is not an exact science. You have to do the best you can with the information you've got. The basis is the FMV on the date of death so either one of the the market analyses whould work.
