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Updated almost 8 years ago on . Most recent reply

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18
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Daniel Vieyra
  • St. John, IN
2
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18
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Rental Property Basis

Daniel Vieyra
  • St. John, IN
Posted
How would one determine the basis of a rental that was gifted? I know the person receiving the property should use the giftor's adjust cost basis. However, the pervious owner did not keep good records.

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1,561
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Brandon Hall
  • CPA
  • Raleigh, NC
2,285
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Brandon Hall
  • CPA
  • Raleigh, NC
Replied

@Buddy Holmes looks correct to me!

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