Just-Lisa-Now-
Level 15
Level 15

If they had died and left the house to the child, then child would get the stepped up basis at the date of death...I always advise my clients not to gift a house, but to die with it and leave it to the person they want to have it.

Unless there is stepped up basis from the other parent passing (as Bob mentioned above), then your original assessment is correct...be sure to take into consideration any capital improvements done to the house during the time mom owned it, that will increase basis and lower the taxable gain.


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