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Level 2
October 29, 2024
Question

Rental property taxation

  • October 29, 2024
  • 4 replies
  • 18 views

Hi

I inherited a rental property in California when my husband died. The property is under my name. California has community property law. Does step-up apply to whole value or 1/2 (half) of value of the property. Thank you

Kim

    4 replies

    Level 15
    October 29, 2024
    No text available
    Level 2
    October 31, 2024

    Hi

    Does it mean I do not have to pay for capital gain tax if I sell it now.  Thanks

     

    Level 15
    October 31, 2024