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CA client own a rental in Hawaii. Spouse passed in 2018. Do we step the entire basis per CA rules, or only 1/2 as property is situated in non-community property state?

jp1
Level 1

Property purchased while married and CA residents.

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George4Tacks
Level 15

Basis adjustment is made according to the rules of the state of residency of the decedent, not of the property. 


Here's wishing you many Happy Returns

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1 Comment 1
George4Tacks
Level 15

Basis adjustment is made according to the rules of the state of residency of the decedent, not of the property. 


Here's wishing you many Happy Returns
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