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  #1  
Old 02-03-2008, 11:59 AM
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What is the name of your state? What is the name of your state? Washington

I sold a house the my ex-boyfriend passed on to me through a quit claim deed
10 years ago. For capital gains is the cost of the house based on the fair market value of the house at that time?
  #2  
Old 02-03-2008, 12:24 PM
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Originally Posted by blanche dubois View Post
What is the name of your state? What is the name of your state? Washington

I sold a house the my ex-boyfriend passed on to me through a quit claim deed
10 years ago. For capital gains is the cost of the house based on the fair market value of the house at that time?
Duplicate post. And tranquility gave you the correct answer on the Real Estate forum.
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  #3  
Old 02-03-2008, 12:25 PM
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Quote:
Originally Posted by blanche dubois View Post
What is the name of your state? What is the name of your state? Washington

I sold a house the my ex-boyfriend passed on to me through a quit claim deed
10 years ago. For capital gains is the cost of the house based on the fair market value of the house at that time?
Your basis would be his original basis plus any improvements you may have added. This assumes he was alive at the time.
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Old 02-03-2008, 12:32 PM
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Originally Posted by irsos View Post
Your basis would be his original basis plus any improvements you may have added. This assumes he was alive at the time.
It's a tad difficult for dead people to sign deeds.
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  #5  
Old 02-03-2008, 12:44 PM
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Originally Posted by seniorjudge View Post
It's a tad difficult for dead people to sign deeds.
I've heard that they manage to do so in Chicago - right after they have cast their ballots!
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  #6  
Old 02-03-2008, 12:47 PM
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Originally Posted by anteater View Post
I've heard that they manage to do so in Chicago - right after they have cast their ballots!
When I die, I want to be buried in Cook County, Illinois, so I can continue participating in the political process!
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