Inherited Rental Property - Cost Basis
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- Joined: Fri Nov 04, 2011 2:37 pm
- Location: State pf Northern Virginia
Inherited Rental Property - Cost Basis
What it the cost basis for inherited rental property?
Re: Inherited Rental Property - Cost Basis
Probably the same as any other inherited property:
http://www.irs.gov/publications/p551/ar ... 1000257012If a federal estate tax return does not have to be filed, your basis in the inherited property is its appraised value at the date of death for state inheritance or transmission taxes.