jesdq1
Level 4

Regarding the stepped up basis of inherited property or gift:  Warranty deed dated August, 2008 quit claimed the house from mother to mother and son. Warranty deed also gave mother unrestricted right to sell, gift lease... for the mothers lifetime.  Then upon her death property then conveyed to son.  Mother died Nov 1, 2020.  My question is this:  was the house gifted to the son (august,2008) or can I take date of death stepped up basis?  I am thinking that the clause in the warranty deed where the mother maintains complete control over the house allows the DOD stepped up basis ( because the son did not have a right the house until death ) ?

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