Mcarr48 Pearl

Hi if someone had a second home with their husband in equal shares and inherited the other 50% share when their husband passed what would the cap gains calc be based on when they come to sell it? Would it be the purchase price? Or would 50% be the purchase price and 50% be at the market value when the husband died? thanks

Hi, my mother inherited a 50 percent share of property from my father when he passed. She has sold the property this year, does she pay cap gains on the original purchase price, or is the value of the property assumed to be 50% of purchase price plus 50% of market value at the time of my fathers death? Thanks