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| Topic | Stock Market General #49 |
| CE_gonna_CE 04/15/23 4:08:28 PM #147: | Gamingsince1989 posted... Zillow, realtor, redfin etc all value the house somewhere in the 400-440k range, but they were going off of what the house was valued for property tax purposes which was 280kAh.. got it. Well I think that is actually decent news. Im a CPA, not a tax lawyer or anything so take this as you will, but go off off Zillow/Redfin/Realtor. Those are true fair market estimates, not the value pulled for tax purposes. Ultimately, the stepped up basis you have in the property is the market value that the house would go for if it were sold on the day they passed away and you inherited the property. I guarantee thats the 400-440, not the 280. The same applies to the NG shares. Its just a lot easier to value those since you can pull the exact share price of that on the day of inheritance. Cant do the same for a piece of real estate, but short of getting an appraisal or valuation, Zillow and Redfin estimates are just as good and reliable as anything. If youre turning around and selling the property pretty quickly, safe to assume your basis in the property is that sales price and youll be at a $0 wash for tax purposes - no gain or loss. --- https://gamefaqs.gamespot.com/boards/1531-food-delivery-services-general ... Copied to Clipboard! |
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