- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Tax Implications for Sale of Vacant Land
Posted on 2/6/17 at 1:36 pm to LSUfan2008
Posted on 2/6/17 at 1:36 pm to LSUfan2008
Generally the person that inherits the property gets a step-up in basis to the fair market value at the date of death. Your mom's basis would be that step-up basis amount. Read this IRS Q&A about your basis after the gift.
When did your mom inherit the land, and when did she gift it to you?
When did your mom inherit the land, and when did she gift it to you?
1
Posted on 2/6/17 at 5:28 pm to CubsFanBudMan
Mom inherited in 2003 and put in my name in 2006.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News