BobKamman
Level 15
02-28-2021
08:45 PM
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If his siblings had decided just to give him the house, his basis would be the $62K FMV (presuming you meant this as date of death, so it was their basis).
The fact they got some money back from him, making it only a partial gift, is not relevant.
His basis is $62K plus improvements he paid for himself.