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Showing content with the highest reputation on 12/02/2024 in all areas
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I would check with the attorney for the estate. There might be other factors to consider and state law; like how and when the property was acquired.2 points
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If the wife inherited the property then its gets a step up to DOD value, however, if sold within 6 months the IRS will generally use the sales price as estate value. Usual results when inherited property, including stocks, gets sold is a small loss for transaction costs.1 point
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When I first read that, I thought it said decedents. Still in a food coma. Tom Longview, TX1 point