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Establishing cost-basis for inherited property split between siblings, and then years later buyout of 1 sibling.
Property inherited in 2001 by 3 siblings, FMV was $112,000. In 2012, 1 sibling wanted out. Other two siblings bought out. FMV at that time was $100,000. Property sold in 2020 for 200,000. How to split out the cost basis?
‎February 20, 2021
11:10 AM