What is the name of your state?Ohio
If a farm property is deeded as a life estate to me upon my father's death by my grandfather and recieved by me at my fathers death, what is the tax basis of the property upon my selling of the same. Is it at the time the life estate was established or at the time of my father's death?
If a farm property is deeded as a life estate to me upon my father's death by my grandfather and recieved by me at my fathers death, what is the tax basis of the property upon my selling of the same. Is it at the time the life estate was established or at the time of my father's death?