The Money Mustache Community
Learning, Sharing, and Teaching => Taxes => Topic started by: BabyShark on January 05, 2018, 06:48:16 AM
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I took Tax Law, I should have some basic understanding of this but here we are. Any help would be appreciated :)
In August 2012, I moved to Virginia and my dad bought a town home for me to live in as my primary residence for $119,000. In August 2013, my dad gifted me 10% of it. In December 2015, he passed. In September 2017 (his estate took a while to get all straightened out), I inherited the remaining 90%, in December 2017 for $151,000. What do I use as my acquisition date, the date I received the 10% or the date I received the remainder? I know about the exclusion but I'm trying to figure out if I qualify based on my partial ownership in 2013.
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Dude, this is why there are actual Tax Lawyers and Certified Public Accountants. There's too much down side to risk fucking this up. Pay for a highly experienced professional's advice.