Mom dies, house in dad’s name: What about stepped-up basis?

Rules for inheritance only apply when something inherited
Published on Feb 6, 2006

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by CareyBot

DEAR BOB: In 2005 my mother died. Her will left all her assets to my dad. Their major asset was their home, now worth around $450,000. However, title to the house was held in my dad’s name alone. He owned ...