Christian Posted February 10, 2023 Report Share Posted February 10, 2023 A client's wife inherited a house which she and husband lived in for a number of years. They then bought another house and basically let family use the inherited one for a number of years. Last year she sold it and since the couple has not lived there in eight to ten years it cannot be sold as their residence. I will show it as an inherited house using the basis as of the date of her father's death and add any improvements made by them since he passed on. This seems correct to me but as usual any input is appreciated. 8 Quote Link to comment Share on other sites More sharing options...
Yardley CPA Posted February 10, 2023 Report Share Posted February 10, 2023 That's how I would do it. 1 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 10, 2023 Report Share Posted February 10, 2023 I am inclined to do same. Quote Link to comment Share on other sites More sharing options...
Sara EA Posted February 11, 2023 Report Share Posted February 11, 2023 Me too. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted February 11, 2023 Report Share Posted February 11, 2023 Yes, that is the way I would also do it. Quote Link to comment Share on other sites More sharing options...
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