Firebird8312
Junior Member
What is the name of your state?What is the name of your state? Alabama
My husband inherited a house from his mother last year. The attorney suggested selling the house from the estate, rather than distributing it to him first. The idea was to save an extra recording fee to transfer the deed twice (once to the estate and again to my husband). However, will he be able to take the step up in basis if the estate sells the house and distributes cash to him? I don't believe so, but would appreciate the thoughts of others.
Thanks.
My husband inherited a house from his mother last year. The attorney suggested selling the house from the estate, rather than distributing it to him first. The idea was to save an extra recording fee to transfer the deed twice (once to the estate and again to my husband). However, will he be able to take the step up in basis if the estate sells the house and distributes cash to him? I don't believe so, but would appreciate the thoughts of others.
Thanks.