[WSBARP] Capital gains and probate

[Kary Krismer]

Actually there would be no Form 17 on an estate sale.  It's exempt.  
Agents are used to that, so it shouldn't raise any eyebrows.

Kary L. Krismer
John L. Scott, Inc.
206 723-2148

On 1/10/2020 11:16 AM, michael at westseattleattorney.com wrote:
> I agree with you and note that if you sell through the estate, no Form 
> 17 is filled out so "as is" to buyer
>
>
>
>     -------- Original Message --------
>     Subject: [WSBARP] Capital gains and probate
>     From: Jim Doran <jim at doranlegal.com <mailto:jim at doranlegal.com>>
>     Date: Fri, January 10, 2020 10:26 am
>     To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com
>     <mailto:wsbarp at lists.wsbarppt.com>>
>
>     Listees:
>
>     A typical scenario.  Homeowner dies and has no Will.  There is
>     only one heir, so no problem there.  The question is about capital
>     gains. It is easiest to leave the real property in the estate
>     under the decedent's name until it sells and then have the
>     Personal Representative issue a deed to the buyer.  However, the
>     very savvy heir has asked me this question.  Does the stepped-up
>     basis occur if we hold the property in the estate for sale or do
>     we need to transfer the property to the heir and then have her
>     sell it?
>
>     I think the stepped-up basis occurs either way, but I am not
>     sure.  Help.
>
>     Jim Doran
>
>     James R. Doran
>     Attorney at Law
>     100 E. Pine Street -  Suite 205
>     Bellingham, WA 98225
>     (360)393-9506
>     jim at doranlegal.com <mailto:jim at doranlegal.com>
>     www.doranlegal.com <http://www.doranlegal.com>
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