Contributed By Baker McKenzie S.A.S.
The cost basis of immovable property varies depending on the following rules. The cost basis of property transferred during an individual's lifetime will be the value of the legal act including any direct attributable costs, as well as any improvements on the property. On the contrary, the cost basis of property transferred at death shall be the property's cost basis declared by the deceased as of December 31st of the previous year.
Ave Calle 82
No 10- 62 piso 7
Bogotá, D.C. 110221
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