Retirement tax questions


@Nellie4 wrote:

Someone told me that the value of the house at the time of death was the basis, and not the price she paid for the house some number of years ago.  Is this correct? 


Yes, that would generally be correct assuming she purchased the house and placed it in a revocable trust that she had drafted for her (which would have become irrevocable upon her passing).

 

I am sorry for your loss.