Technical topics regarding tax preparation.
9-Jun-2021 7:39pm
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- 13-Jul-2015 7:29am
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Hi Pros,
Hope all is well!
I have a question on the sale of a rental property owned by a living trust. After the death of the grantor, the beneficiary sold the rental property soon. For calculating the capital gain, should the cost basis be the original purchase price or the step up basis of the date of death?
Thanks a lot!
9-Jun-2021 8:55pm
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- 22-Sep-2014 9:25am
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- Farmington, Michigan
step up
Dave
Taxation is the price we pay for failing to build a civilized society. ~ Mark Skousen
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