Thanks for taking the time to look this over. After verifying the Deed was "Joint Tenancy" and then doing some searches, I think I'm following a little bit. The inclusion of some numerical examples is most helpful (and quite close). I'm OK until the last part where it appears my Basis would increase by 50% of the 2021 land value. If these sample values are added for my total cost basis - they're very nearly equal to the sale price. Not that I would complain, but it seems a bit odd for being "handed" almost $50k and only being responsible for a miniscule capital gain after paying nothing for the property. Or more likely, I'm still not comprehending the process yet and how it fits with 8949.
