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Deductions & credits
In the event it is in a Community Property State, the house would have received a FULL "step-up" in basis when the spouse died.
Basis is increased by permanent improvements since the basis was established (1971, and/or the 'step-up' date). However, it may be challenging to determine the cost of improvements that were made before you received it as a gift.
Basis is increased by permanent improvements since the basis was established (1971, and/or the 'step-up' date). However, it may be challenging to determine the cost of improvements that were made before you received it as a gift.
May 31, 2019
6:38 PM