Ian Bryzek, CPA
What basis records are needed for an inherited condominium?
A condominium basis file includes the unit, its ownership record, and any facts that affected value at death.
Condo documents can be scattered among homeowner association notices, old escrow papers, and family files.
Special assessments, unit improvements, and association issues may be relevant facts without changing the core need for value support.
What to gather
- Condo deed and legal description
- Date-of-death condo appraisal
- HOA statements and special-assessment notices
- Unit remodel invoices
- Closing statement if sold
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.
A practical next step
Save the HOA records with the appraisal instead of treating them as ordinary mail.
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 is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.