Peter Boileau

Thank you for this. Just to clarify the property was purchased as Joint tenants and not as tenants in common. Does the same apply in both instances I.e. if a joint tenancy and not tenet to in common can I still claim my wife’s half at the date she died for capital gains purposes

I bought a property in 1997 with my wife as joint tenants. My wife died in 2008 and I inherited her estate. I want to sell the property . Is the base value of the property the purchase price in 1997 or is it different as a result of my wife’s death. Do I use for the base price 50 per cent of the original purchse price as my share and 50 per cent of the property value in 2008 as my wife’s share?

In 1997 my wife and I bought a second home in joint names. My wife died in 2008 and I inherited her half of the property . I am selling to property . For cgt purposes is the property value my 50 per cent share of the 1997 purchase price plus the value of my wife’s 50 per cent assessed on her date of death in 2008. The property was bought for 45 k in 1997 and the total value of the property in 2008 when she died was 140 k . Is my baseline price therefore 50 percent of 45k plus 50 per cent of 140k I.e 22.5k plus 70k .. that is 92.5 k as the baseline before capital gain ?