Inherited house basis calculation with no appraisal at time of
Jun 1, 2019 · The basis of an inherited home is generally the Fair Market Value (FMV) of the property at the date of the individual's death. If no appraisal was done at that time, you will …
How to show house cost basis step up due to death of spouse.
Jun 7, 2019 · If they were in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Alaska is an opt-in community …
Solved: How do I calculate my land value and improved value
Jun 1, 2019 · How do I calculate my land value and improved value for a condo? When I go to the county's assessor's website the total value is about $21K, but my FMV is about $300K.
FMV of inherited real estate sold within 6 months of death
Nov 7, 2021 · This question relates to the sale of inherited real estate and the acceptable methods for determining capital gain/loss treatment on an estate's 1041 return. I understand …
If I have uncompensated losses due to hurricane damage, can I …
Nov 4, 2024 · That depends on what kind of losses. Lost property, or lost property value (such as damage to home, contents, and vehicles) can be taken as a casualty deduction. There are …
Is a vehicle property tax the same thing as car registration fee?
Apr 30, 2023 · In California, for instance, the value-based portion is identified on car owners' billing statements as a "vehicle license fee" and is specifically labeled as tax-deductible. In …
My property tax bill shows my real assessed value. Is this …
Jan 26, 2025 · The real assessed value, is the value that is assigned to your property. This amount is used to calculate your property taxes. The amount includes both the land and any …
How does TT determine land value? I entered $30k as the value
Jun 4, 2019 · But when I buy a property, I can use the assessed value of the land as the land value for determining my depreciable basis (actual expenses less property appraised land …
How do I find Land Value and Improvement Value for "Enter …
Jan 17, 2024 · Thank you. So I should subtract the assessed value from the assessed property value for the improvement amount? Or can I use my much higher actual purchase price …
How do I find the land value and improvement value of my …
Jun 7, 2019 · I can't figure out the land value and improvement value of my property. I've got a copy of my tax bill, but they don't use the same terminology. My tax bill gives me a combined …