topic If you inherit a home that was a parent's primary residence, and then rented it, how do you establish the cost basis when it is sold? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/if-you-inherit-a-home-that-was-a-parent-s-primary-residence-and-then-rented-it-how-do-you-establish/01/432234#M17906 Tue, 04 Jun 2019 21:50:45 GMT barbrobinson1226 2019-06-04T21:50:45Z If you inherit a home that was a parent's primary residence, and then rented it, how do you establish the cost basis when it is sold? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/if-you-inherit-a-home-that-was-a-parent-s-primary-residence-and-then-rented-it-how-do-you-establish/01/432234#M17906 Tue, 04 Jun 2019 21:50:45 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/if-you-inherit-a-home-that-was-a-parent-s-primary-residence-and-then-rented-it-how-do-you-establish/01/432234#M17906 barbrobinson1226 2019-06-04T21:50:45Z The cost basis is the fair market value on the date the p... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/the-cost-basis-is-the-fair-market-value-on-the-date-the-p/01/432239#M17907 <P>The cost basis is the fair market value on the date the previous owner died, plus any improvements you made, minus depreciation you took or could have taken while it was a rental property.</P> Tue, 04 Jun 2019 21:50:47 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/the-cost-basis-is-the-fair-market-value-on-the-date-the-p/01/432239#M17907 Opus 17 2019-06-04T21:50:47Z
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topic If you inherit a home that was a parent's primary residence, and then rented it, how do you establish the cost basis when it is sold? in Investors & landlords
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If you inherit a home that was a parent's primary residence, and then rented it, how do you establish the cost basis when it is sold?
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The cost basis is the fair market value on the date the p...
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<P>The cost basis is the fair market value on the date the previous owner died, plus any improvements you made, minus depreciation you took or could have taken while it was a rental property.</P>
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