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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?
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