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NLAX
New Member

For capital gains - what is the cost-basis for property in a Life Estate that transfers to the Remainder Owner when the Life Tenant passes and the Remainder Owner sells?

 
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MarilynG1
Expert Alumni

For capital gains - what is the cost-basis for property in a Life Estate that transfers to the Remainder Owner when the Life Tenant passes and the Remainder Owner sells?

Your Cost Basis in the Life Estate would be the FMV when the Life Tenant passes.

 

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MarilynG1
Expert Alumni

For capital gains - what is the cost-basis for property in a Life Estate that transfers to the Remainder Owner when the Life Tenant passes and the Remainder Owner sells?

Your Cost Basis in the Life Estate would be the FMV when the Life Tenant passes.

 

Click this link for more info on Tracking Cost Basis

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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