If I inherited a home that was divided between 5 people how much should I list as the original value of the home? Should I list the value as a 25% of the value?

emily-wortman319 · ‎March 4, 2022

MinhT1 · ‎March 4, 2022

I understand that you are asking about the cost basis of your share of the inherited home. The cost basis is the cost from which any capital gain/loss will be calculated when your sell your share of the property.

For the inherited home, the cost basis is the fair market value (FMV) of the home at the time of death of its original owner.

If the home is divided equally between 5 people, then your cost basis is 20% of that FMV.

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

SweetieJean · ‎March 4, 2022

Did you actually inherit 20% of the home? Or did you inherit 100%, and then share with the others?

Expert does your taxes

Do it yourself

Resources

Support

If I inherited a home that was divided between 5 people how much should I list as the original value of the home? Should I list the value as a 25% of the value?