Are any of the costs of transferring title of an inherited house to the beneficiary deductible once the beneficiary sells the house?

The house was treated as an investment and was not used for personal use nor as a rental. It was both transferred to the beneficiary and sold in 2017.

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1 Best answer

New Member

Jun 5, 2019 2:42:07 PM

Yes, expenses paid to obtain title to your property are added to the basis. These expenses include:

legal fees to obtain title to the home
title search fees
title insurance
title recording fees
transfer taxes, and
survey fees.

New Member

Jun 5, 2019 2:42:07 PM

Yes, expenses paid to obtain title to your property are added to the basis. These expenses include:

legal fees to obtain title to the home
title search fees
title insurance
title recording fees
transfer taxes, and
survey fees.

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Are any of the costs of transferring title of an inherited house to the beneficiary deductible once the beneficiary sells the house?