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Old 04-21-2013, 11:37 AM
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Inheritance issue

We filed our 2012 tax return with an error. We had a home deeded to us in 2007 where the owner had life rights. When i filed i put that the home was an inheritance with the basis the same as the sale price. When in fact it was a gift with the basis at the date of death which is the same as the sale price ( we sold it 5 months after death). Do i need to amend my return to reflect that this was not an inheritance and provide the documentation from the sale?



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