My uncle passed away July 2018, property was sold July 2019, he paid $55,000, was sold for $60,000.
In 2007 after his wife passed away he had a transfer on death affidavit made and named 6 nephews and nieces as beneficiaries, he had no children, I was the executor. Is the cost basis, his purchase price $55,000, or the FMV on the date of death?
