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?

NLAX · ‎March 26, 2021

MarilynG1 · ‎March 26, 2021

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"

MarilynG1 · ‎March 26, 2021

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"

Unlock tailored help options in your account.