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April 12, 2022
Question

Inherited a property in July sold it in November

  • April 12, 2022
  • 1 reply
  • 0 views

My wife inherited her father's property in July.  It had a tenant, which we continued to rent to until Nov. 11 when we sold the property.

 

Do we value the property at what it was sold for?

1 reply

April 12, 2022

The value of the property would be the FMV at the date of her father's death which should be the same as the selling price since there were only a few months between the two events.

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