<html><body><span style="font-family:Times New Roman; color:#000000; font-size:12pt;"><div>I agree with you and note that if you sell through the estate, no Form 17 is filled out so "as is" to buyer</div><div><br></div><div><img id="sigimg0" title="signature image" src="cid:sigimg0@3c3b2e39611bd1616b380fab3a8b5db5" border="0" alt=""></div><div><br><br></div>
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-------- Original Message --------<br>
Subject: [WSBARP] Capital gains and probate<br>
From: Jim Doran <<a href="mailto:jim@doranlegal.com">jim@doranlegal.com</a>><br>
Date: Fri, January 10, 2020 10:26 am<br>
To: WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
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<div dir="ltr"><font size="4">Listees:</font><div><font size="4"><br></font></div><div><font size="4">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?</font></div><div><font size="4"><br></font></div><div><font size="4">I think the stepped-up basis occurs either way, but I am not sure. Help.</font></div><div><font size="4"><br></font></div><div><font size="4">Jim Doran</font></div><div><font size="4"><br></font><div><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div><div><div><div>James R. Doran<br></div>Attorney at Law<br></div>100 E. Pine Street - Suite 205<br></div>Bellingham, WA 98225<br>(360)393-9506<br></div><a href="mailto:jim@doranlegal.com" target="_blank">jim@doranlegal.com</a><br></div><a href="http://www.doranlegal.com" target="_blank">www.doranlegal.com</a><br></div></div></div></div></div></div> <hr>***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***<br>
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