USM Professor
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Thank you for the clarification, Opus. Very helpful.
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BTW, I am inclined to believe I will need a tax attorney to sort through the details of this transaction. Thank you for bringing up a number of salient points.
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Thank you, Opus, for your thoughtful reply.RE: #6 - Can you clarify? If the $26,500 were treated as a FMV, if I add the $31,000 (which was legitimately all impr...
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...he didn't want to think about dying so I did not push him to sign the will out of respect.
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Unfortunately, he did not sign it so it was not binding in the state of Arizona.I never told my siblings he planned to pass it on to me, as I did not want them ...
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- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 30, 2024 9:39 AM
- Cheered Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? for Opus 17. April 30, 2024 9:39 AM
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 30, 2024 7:59 AM
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 30, 2024 7:57 AM
- Cheered Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? for pk. April 30, 2024 4:54 AM
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 30, 2024 4:46 AM
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 30, 2024 4:45 AM
- Cheered Re: What IRS forms do I need for a small home I inherited in 2022 and sold in 2024? for fanfare. April 29, 2024 7:14 AM
- Posted Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 29, 2024 5:37 AM
- Cheered Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? for M-MTax. April 28, 2024 5:38 AM
- Cheered Re: My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? for Opus 17. April 28, 2024 5:38 AM
- Posted Re: What IRS forms do I need for a small home I inherited in 2022 and sold in 2024? on Deductions & credits. April 28, 2024 5:26 AM
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- Posted What IRS forms do I need for a small home I inherited in 2022 and sold in 2024? on Deductions & credits. April 27, 2024 5:00 PM
- Posted My siblings and I inherited a small house and I ended up buying them out for a total of $6,000. I renovated the house and sold it. Can I add the $6,000 to calculate FMV? on Deductions & credits. April 27, 2024 11:29 AM