I sold a rental condo in 2025. My mother originally purchased the condo and then put it in my name joint tenants with write a survivorship in 1999-How do I find the cost basisfor condos sold in Phoenix in 1999I have not been able to find any information to get the cost spaces. Nothing seems to go back to 1999: my mother died in 2003 and I was able to find the cost basis for my 1/2 step up for 2003 thank you
Capital Gains and Recapture Tax on Rental Condo
byu/Cohiti12 intax
Posted by Cohiti12
5 Comments
It would probably have to be the county records for the sale. Don’t forget to add improvements/major repairs (if any) to your cost basis
Look up the public records, usually the deeds are at the county level. The deed or some other public record will show the purchase / sales price.
Your basis of her “gift” part is not FMV at that time…it is whatever her basis was, what she bought it for. You only get the step up basis on inheritance.
If rental was on your and/or mom’s tax return, you may be able to see fixed assets.
As /u/Organic_Gas4197 wrote, it should be on Mom’s tax return or in her accountant’s records.
On an aside, was there any other arrangement? Could you have sold your half when she was still alive? If mom gave the property to you and you paid nothing for it, it may have potentially been in Mom’s estate when she died. (Even though it would not go through probate to transfer to you.) Are you SURE you only get a step up on 1/2? Has a professional, after looking at the facts, advised you of that?