Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I am the executor of my aunt's estate and also the benefactor of her home.The title will be placed in my name and I understand that its currentvalue will be my cost basis when I sell in the future(not presently selling-letting my father live there).
What expenses for the house(cleaning/carpets/new hot tub) can I charge to the estate to lower her estate value for tax purposes?
If it needed improvements to make it more sellable would they be allowed?
Or do I pay for the improvements(out of nonestate funds) and then just add them to my cost basis?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.