Ian Bryzek, CPA
What donor-basis records should be preserved after a lifetime gift?
A gift recipient’s later sale often depends on the donor’s basis history, which is easy to lose after the donor dies.
Purchase records, improvement invoices, and prior depreciation schedules may matter years after the gift.
Ask for those donor records while estate papers are still being sorted.
What to keep with the file
Ask for those donor records while estate papers are still being sorted.
What to do next
Copy donor basis support into the recipient’s permanent property or securities file now.
What to gather
- Donor’s original purchase documents
- Improvement and depreciation records
- Gift-date value evidence
- Form 709 attachments
- Recipient’s later sale file cross-reference
Who usually handles what
- Ian can organize the tax reporting question and the supporting records.
- James Valdez can provide an independent residential fair-market-value appraisal when a supported property value is part of the documentation.
- The executor, trustee, or account custodian supplies records and confirms who has authority to act.
A practical next step
Copy donor basis support into the recipient’s permanent property or securities file now.
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
- Basis for property transferred before death
- Step up in basis after death
- Records needed to establish basis
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.