Life Estate: I am selling the property, at what time would I figure my cost basis?
This is a discussion on Life Estate: I am selling the property, at what time would I figure my cost basis? within the Tax Issues forum, part of the Other Business & Finance Law Issues category; My husband inherited a house and acreage from his sister, with her husband to have a life estate in the ...
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Mar 4th, 2008, 07:09 PM
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Life Estate: I am selling the property, at what time would I figure my cost basis?
My husband inherited a house and acreage from his sister, with her husband to have a life estate in the property. The life estate ended in 2006. My husband passed away in 2002. At which time I would have inherited it from him. I am selling the property and need to know at what time would I figure my cost basis. At the end of the life estate, or at the time of my husbands death. Or???
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