@richarpr wrote:
....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.
Yet, that is the way the basis rules work in your scenario.
You started with a carryover basis of $10,833.33 and each successive interest you acquired from one of the joint tenants was stepped up to its fair market value on the dates of their deaths.
