Ian Bryzek, CPA
Inherited property owned for decades
A long-owned property often has incomplete history, making early document collection especially valuable.
The old purchase price is not a shortcut for the inherited property's federal basis.
Locate ownership records, historical value support, improvements, and California assessment notices separately.
What to keep with the file
Locate ownership records, historical value support, improvements, and California assessment notices separately.
What to gather
- The source documents closest to the transaction
- A dated list of what happened after death
- Statements, invoices, or correspondence that explain the entries
Who usually handles what
- Ian can help identify the tax records and reporting questions.
- James Valdez can provide an independent residential fair-market-value appraisal when a supported property value is part of the documentation.
A practical next step
Make a short timeline and mark any fact that still needs support.
When a property value is part of the picture
When residential real estate needs a supported fair market value as of a relevant date, an independent appraiser may be part of the documentation process. Ian does not determine fair market value.
Related guides
This general information is not tax or legal advice. The answer depends on the documents, ownership, timing, and facts of the particular matter.