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J
jute620
March 24, 2025
Question

father dies mother sells house-how to use step up adjusted cost?

  • March 24, 2025
  • 1 reply
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1 reply

KrisD15
KrisD15
March 24, 2025

Her half of the original purchase price of the home plus half the Fair Market Value of the home on the date your father passed. 

 

So if purchased for 200,000 her original basis world be 100,000.  

If it was worth 300,000 on the date her spouse passed, her basis would be added to 1/2 that value as well, so 100,000 + 150,000 = 250,000

Her adjusted basis for the sale would be 250,000

HOWEVER if they lived in a Community Property State, such as California or Texas, she would get the stepped-up value on both halves and her basis for that sale would be 300,000. 

 

 

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