Eagle Home Appraisal Cincinnati
Step-up basis appraisals in Cincinnati
If you inherited a house in Cincinnati and may sell it one day, the IRS will want to know where its value started. We write a report that looks back to the date of passing and explains how we got there.
Call with the address and the date your tax adviser gave you. We will go over the use, the scope and the fee before any work begins.
Serving Cincinnati and Hamilton County
What a step-up appraisal is for.
When you sell an inherited home, your taxable gain is measured from your basis. For most heirs, that basis is the home’s value on the date of passing, so a well-supported number from that day can matter years later.
The federal rule in plain words
For federal income tax, an heir’s starting basis in property received from someone who has passed away is generally its fair market value on the date of death (26 U.S.C. 1014). That is the one place we use the harder phrase; from here on we will say date of passing. If the executor elects the alternate valuation date under section 2032, the value at that later date applies instead.
The IRS applies this basis whether or not an estate tax return is filed. Selling above it leaves a taxable gain. A 2015 law adds that, in certain cases, the heir’s basis must match the value finally determined for the federal estate tax.
“Step-up” is a label, not a promise. Basis can come out lower than what the owner once paid as well as higher. Have your tax adviser confirm the date and the use before you order.
What Ohio adds, and what it does not
- No Ohio estate or inheritance tax now. R.C. 5731.02 limits Ohio’s estate tax to passings before January 1, 2013, and Ohio has no inheritance tax.
- Federal estate tax is rare. A return is generally required only above $15,000,000 for a U.S. citizen or resident who passes away in 2026. Form 706 is also how an executor elects portability.
- Ohio is not a community-property state. IRS Publication 555 leaves it off the list, so the special rule for a surviving spouse’s half does not apply. If you owned the house with a spouse, ask your adviser how basis applies to each share.
- A lifetime gift works differently. IRS Publication 551 starts from the giver’s basis, not a value at passing.
- The inheritance itself is usually not income. IRS Publication 525 says so, though rent the property later earns is taxable.
If the estate is open in Hamilton County, the Probate Court inventory states values as of the same date (R.C. 2115.02). One report can sometimes serve both purposes; ask your adviser and us.
Three things today’s price cannot settle
- Which day counts. Normally the date of passing, or the alternate valuation date only if the executor elects it. The inspection happens later, and the report names its own effective date.
- The house before later work. If it was cleared out, repaired or remodeled afterward, the report has to describe it as it stood before. Dated photos, insurance or repair records and old listings carry that evidence.
- The market back then. What counts is sales activity around the effective date, not what is listed now. The report explains which sales were chosen and why.
Hamilton County records that help look back
- The Hamilton County Auditor property search shows parcel details, and the Auditor’s site has a separate property sales resource.
- The Hamilton County Recorder’s Office gives access to recorded documents, including deed indexes.
- If the probate inventory used the Auditor’s value, note that Probate Court Local Rule 61.1 describes it as the Auditor’s fair market value for real estate tax purposes. Whether it also works as a basis record is a question for your adviser.
Your own papers count as much as public ones: dated photographs, the homeowner’s insurance file, repair invoices and any listing from around that time.
How a retrospective assignment moves
- Pin down date and use. You share the address, the effective date your adviser gave you and who will rely on the report.
- Compare then and now. The home is inspected as it stands, and your records mark what changed since.
- Rebuild the earlier market. Evidence from around the effective date is weighed into an opinion of value.
- Take it to your adviser. Go through the purpose, effective date and assumptions before anyone relies on the report.
Scope, fee and delivery are quoted in writing before work starts. Older markets and thin records can lengthen the job.
What helps us start
- The address and Auditor parcel number.
- The effective date, and whether an estate tax return or alternate valuation is being considered.
- Who will use the report: executor, heirs, accountant.
- Repairs, renovations or cleanouts since, with dates.
- Any earlier appraisal, or the Auditor figure used in the inventory.
- Access to the house and your adviser’s deadline.
See also our estate and probate pages, or contact us.
A few questions that come up.
Does Ohio tax an inherited house?
Not at present. Ohio’s estate tax applies only to passings before January 1, 2013, and Ohio has no inheritance tax. Federal income tax on a later sale is a separate matter that your adviser can explain.
Can one report serve probate and basis?
Sometimes, because both look to the same date. Ask your adviser and the appraiser before the scope is set.
How do I get a quote?
Call (513) 998-7177 or use the contact page with the address and effective date. Scope, fee and delivery are put in writing before work begins.
Eagle Home Appraisal Cincinnati