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Investors & landlords
@Hal_Al has a good point. If your brother acquired the house as the remainderman in a life estate deed, he would receive a "step-up" in his cost basis to the property's FMV at the time of the father's passing. A step-up in basis could be very beneficial tax-wise.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
March 31, 2023
8:25 AM