Camas Lilly
Recycles dryer sheets
- Joined
- Sep 18, 2007
- Messages
- 318
Was that a residence or a rental? What was the cost basis of the house?
Capital assets generally get a step-up in basis to date-of-death value so there may be only a small gain from date-of-death to sale price. Ask the executor.
House $387,500. Cost basis $287,500 / 2 = $147,500 for my part.