Different expert here. I'm Anne and I've been preparing taxes for 27 years,and it will be my pleasure to help you today.
If, when the husband put his wife's name on the LLC, he pretty much "assigned" her 1 of the properties, and he took the other, then figuring the basis is fairly simple.
Her basis in the home that was "hers" doesn't change. However, she would inherit the other house at Fair Market Value on the date of death. (please see IRS
Pub 527, page 7, at URL below:
and page 9 of put 551 at URL below:
If this was NOT the way that the LLC was set up, and they had joint ownership for BOTH properties (which is the usual case) you follow the same theory, meaning she would inherit 1/2 of each home at Fair Market Value. A little more complicated, but it can be done.
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