Real Estate Law
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Good afternoon, and thanks for using Just Answer. The sale of the home, in an of itself does not create a tax disadvantage no matter how you do it. Your tax basis should be the 2002 date of death value of the home. It would increase by your proportionate share of the appreciation since 2002. I mention your "proportionate share", because I can't tell if you own a one half interest or a one third interest. You mentioned that your sister passed in 2004. You did not mention what occurred with regard to her share.
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