Sale of Transfered property

[John Smith]

My client who is 90 years old gave title of his home to his daughter 10 years ago. His daughter sold the home in 2014. My question is can the daughter claim the fathers value as the base for tax purpose or must she pay 100% of the capital gains taxes.

[BHoffman]

http://www.irs.gov/publications/p551/ar02.html#en_US_201412_publink1000257001

See Pub 551.

HTH

[Burke]

My client who is 90 years old gave title of his home to his daughter 10 years ago. His daughter sold the home in 2014. My question is can the daughter claim the fathers value as the base for tax purpose or must she pay 100% of the capital gains taxes.

Assuming the father is still living, she uses his original basis. If he still lived in the home until it was sold, you may be able to split the gain using life estate factors. If he died and then the home was sold (assuming he was still living there) then it would get stepped-up basis. If it was being rented, then that's another calculation. Not enough information in your post to determine the exact circumstances.