My grandmother passed away in September 1995 and in her will gave a life estate to her daughter (my mother) for the family farm. I was named the remainder man in my grandmothers will. The title to the farm was recorded in my mothers name with the County Clerk and she paid property and income taxes from the rent she received. My mother died in March 2008. The property and title was then transferred to me. I sold the farm in November 2008. Is my stepped up basis the date I was named the remainder man in my grandmother?s will (September 1995) or when my mother died in March 2008?
- posted
15 years ago