I read this section of the code. While my parents had an implied interest (with us, their children) that the property would confer upon death and that they woul...
The craziness in using an original basis from the initial purchase in 1966 it two fold. There have been multiple improvements and improvements to improvements! ...
My mistake. The net would be $104,500. I would like to think the implied life estate would apply by default since they lived there. The stepped up basis (at dea...
