This brown bear population only occurs on the islands of the Kodiak Archipelago (Kodiak, Afognak, Shuyak, Raspberry, Uganik, Sitkalidak, and adjacent islands).
The possession date, usually the same as the settlement date, is the day that you will take possession of the house. It is also known as the settlement date because it is the day you pay for the house, and this process of transferring money is known as settlement. This date can be determined by a number of things.
If the difference between the FMV and the price you sell the house for is not that great, the homeownerâs exemption and principal residence issues are moot. If you sell the house sometime during the nine months following your parentâs death, the price the house sells for essentially is its FMV. Thus, if you use the date of sale as the FMV date, the sale price and basis are the same, meaning there is no capital gain tax.