Bart Posted March 9, 2016 Report Posted March 9, 2016 Taxpayer spouse died ten years ago. Taxpayer lives in house for a while and then moves to nursing home 4 or 5 years ago. Allows child to live in house rent free. Taxpayer now sells house. Did the taxpayer get a step up in basis on half the house basis when spouse passed away? Quote
Bonanza 23B Posted March 9, 2016 Report Posted March 9, 2016 1 hour ago, Bart said: Taxpayer spouse died ten years ago. Taxpayer lives in house for a while and then moves to nursing home 4 or 5 years ago. Allows child to live in house rent free. Taxpayer now sells house. Did the taxpayer get a step up in basis on half the house basis when spouse passed away? Yes, assuming the house was owned jointly at spouse's DOD. 1 Quote
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