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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">If it was transferred as a gift then the recipient takes the basis of the Donor. If these were all transfers for no consideration then I think you have the original
basis. However, if there is a death or death of a spouse in there anywhere its possible a step up in basis may have occurred on a portion. More specifics would be needed. Craig <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Gourley Law Group<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#1F497D">Snohomish Escrow<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#1F497D">The Exchange Connection<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">1002 10<sup>th</sup> Street / PO Box 1091<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">Snohomish, WA 98291<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">360.568.5065<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">360.568.8092 fax<o:p></o:p></span></p>
<p class="MsoNormal"><u><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#0563C1"><a href="mailto:Craig@glgmail.com">Craig@glgmail.com</a></span></u><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>David Faber<br>
<b>Sent:</b> Thursday, February 25, 2016 12:02 PM<br>
<b>To:</b> wsbarp <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Cap. Gain Taxes for Real Property<o:p></o:p></span></p>
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<p class="MsoNormal">Client sold real property this year and will need to report capital gains. The real property was purchased in 1972 by a friend of Client, then, a couple years later, quitclaimed to create JTWROS between the original purchaser, Client, and
a third individual. In the mid-80s, the original purchaser and the third individual quitclaimed the real property to Client. Client is now attempting to identify her tax basis in the real property on the date of sale.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Basically, did the quitclaim in the 80s establish a new tax basis, in whole or in part? Or is the Client stuck with whatever her tax basis was in the 70s when the JTWROS was established?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Best,</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">David J. Faber<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Faber Feinson PLLC<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">210 Polk Street, Suite 1<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Port Townsend, WA 98368<br>
(360) 379-4110<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Helvetica",sans-serif">*** NOTICE: ATTORNEY CLIENT COMMUNICATION - PRIVILEGED & CONFIDENTIAL. This communication may contain privileged or other confidential information. If you are not the intended recipient,
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