Kimsfltaxes
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So would the basis be:$50,000 + $41,667 = $91,667?
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Thank you for being understanding and looking at the scenario again.So $50K + $125K = $175K$175K basis, sold for $150K, so a loss of $25KNo capital gains?If tha...
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Hi Mike,Thank you for your reply. I made a mistake in my post: in 2017 I inherited half of my grandma's 1/3, uncle inherited the other half (so we each inherite...
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I believe the property was worth:$150,000 in 2012$250,000 in 2017$315,000 in 2022Sold to uncle for $150,000
Activity Feed for Kimsfltaxes
- Posted Re: Inherited Different Percentages of Property at Different Times on Deductions & credits. January 9, 2023 10:41 PM
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- Posted Re: Inherited Different Percentages of Property at Different Times on Deductions & credits. January 9, 2023 6:37 PM
- Posted Re: Inherited Different Percentages of Property at Different Times on Deductions & credits. January 9, 2023 5:35 PM
- Posted Inherited Different Percentages of Property at Different Times on Deductions & credits. January 9, 2023 5:21 PM