Appreciated property that was inherited in 2015

Name: Appreciated property that was inherited in 2015
Brand: Quizplus
Rating: 4.7 (47 reviews)

Question

Quizplus · Accepted Answer

Property that is inherited in 2015 will have a stepped-up basis, which means the basis of the property will be its fair market value at the date of the owner's death. This results in the avoidance of income tax on the appreciation prior to the date of death. Additionally, any post-inheritance appreciation on a future sale will also be avoided. Therefore, both (a) and (b) are correct.

Appreciated Property That Was Inherited in 2015