In 2017 my fiance and I acquired a rental property. We married in 2018.
We split income and expenses 50/50 in 2017 and allocated 50% of the value on each of our returns.
Filing a join return in 2018, the basis should now be doubled combining both of our shares.
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You are correct in that the basis should now be basically doubled.
You are correct in that the basis should now be basically doubled.
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