Where Should You Save for Retirement? Where Does Real Estate Fit? - 382
Your Money, Your Wealth
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Is Your Tax Basis Correct?
Yoont soa molissis mam, they bought the houmse for 20 thousand dollars in 19 71. It's worth a million dollars to day. But dad died, and two years ago, so it'slikeor four years ago, 20 18. So at 20 18, when he passed, the fairmarket value was 750000 dollars. That should be your new tax basis. And then whatever growth from seven 50 till en mam wants to sell the property is what's going to bee the capital gam tats. Yoont: Sounds like you don't need the 500, if these numbers are right that you gave us, right? If it's for seven f
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