My parents bought their home in 1980. They created a deed in 2004, referred to as a "Reserved Life Estate and Future Remainderman Interest In" myself and my brother. The deed shows the Transfer of Ownership was made for the sum of $1.00. My parents passed away in 2019. We sold the home in 2020.
Are the following values (as shown in the Premier desktop version) determined at the time of the original purchase (1980), time of deed (2004), or the time of death (2019)? -
1) "Date acquired"?
2) "Cost or other basis?
In the Online Premier version, the values are labeled as shown below. Would the answer to my question above be the same?
1) "Date acquired by previous owner"
2) "Previous owner's Cost Basis"
