pamdory
Level 8

I'm not sure that you apply the IRS actuarial tables to establish basis.  I believe those are used to calculate values for other reasons.  Basis would be what it was in Dad's hands prior to the transfer adjusted by any of the usual basis adjustments that may have occurred since.

If Dad transferred to the kids, why would he have basis?

Sounds like either the title company made a mistake or Dad didn't transfer to both son and daughter.  

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