re: Capital Gains Tax Question

quote:

---

The best thing to do would be to not sell it, pass it along to the next generation, then sell it with the newly stepped-up basis. Doesn't sound like that is an option though if they need $$$ for retirement.

---

As the next generation, I don't know if I want the mess of dealing with this property. My mom owns 50% of the property and her sister owns 50%. My cousin is the sole inheritor of my aunt's 50% and I have two sisters, so we'd each get 1/6th. I'd rather my parents use the money for retirement than deal with the headache, although, I'd come out a good bit ahead dealing with the property. Just don't really want the problems that comes with it.