We inherited a home at the end of 2015 but didnt start rented it out for over a year later. We were in no hurry since it was a mortgage free home and we had alot of stuff to go through due to the relative being a hoarder. Do i still use the aquisition price on the day we inherited the property or the day we started renting it out?
@sjbowler Thanks for your question. Stessa is built to be flexible enough to handle different income and expense situations, but we do not provide specific tax advice. You’ll want to check with your CPA for more information about how to handle this scenario around inheritance and cost basis.