Basis for real estate sold by an estate

[PaulR]

I am personal representative for a relatives estate. The estate is selling the decedent's primary residence. Does estate get a step up in basis or can it use the capital gains exclusion for primary residence?

[MarilynG · Accepted solution]

Since the estate is selling the decedent's primary residence, the estate can use the 'stepped up' basis.

If the home had sold the same year the decedent passed away, on the decedent's individual return, the primary residence exclusion could have been used.

Here's more info:

https://turbotax.intuit.com/tax-tips/rental-property/cost-basis-tracking-your-tax-basis/L4i1f9qB1

[Jaime Cabada1]

I sold income property. Which Turbotax 2022 should I use?