How do I determine the cost basis of a property that was deeded to me by my mother in 2007?

[CarolynM · Accepted solution]

Your cost basis is the value of the property when it was deeded to you in 2007, regardless if by gift or through her death.

To determine this amount, most property valuation administrators have this information available on-line. 

You can do an on-line search by entering the name of the county where the property is located.