Leaderboard

I think it may have a chance for reimbursement. I'm just not sure if it can easily be done at settlement but I told the guardian I thought she should get court's approval at this point. I not doubting that son did the work but am uncomfortable with receipts being in his name and probably not showing the actual address of the property, but if court approves it, should I be ok with adding to the basis? Oh, and son wanted to be paid for his time spent working on the house. I already said "no way."

Reading your post was like the script for a True Detective plot

Right! I've known these people all my life, and they were clients since my time employed with a CPA firm and came with me once on my own. The whole original basis was even more complicated involving an old farm with a 1031 exchange into a former residence and then a deferred gain under the old tax laws into this one, but I have all of those records, so that isn't an issue in this story. Who ever said taxes was boring! I told DIL that I may not take this return on but said I'd ask the questions here.

It was nice to wake up this morning to find that the BOI filing deadline has been extended in areas affected by the recent hurricane disasters. FINCEN finally conformed to the IRS extended deadlines, as had been requested weeks ago.