Bart Posted March 9, 2016 Report Share 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 Link to comment Share on other sites More sharing options...
Bonanza 23B Posted March 9, 2016 Report Share 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 Link to comment Share on other sites More sharing options...
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