Thanks everyone. I'm getting closer and believe@Carland@ColeenD3arrived at the same answer, just a couple of different ways.Please confirm my understanding holi...
I'm almost there, so thanks for your help! Here is the math as I now understand it.My new basis is $140,000 (100,000 inherited + 40,000 original interest).Since...
Thanks for your response! Taking point 2 of a suggested answer "Create another new "asset" using 50% of the Fair Market Value on the date of death, and use the ...
