Appreciated property that was inherited in 2019

Name: Appreciated property that was inherited in 2019
Brand: Quizplus
Rating: 4.8 (58 reviews)

Question

Quizplus · Accepted Answer

A) and B) are correct because inherited property receives a stepped-up basis to its fair market value at the date of the decedent's death, which avoids income tax on the appreciation that occurred prior to the decedent's death. C) is incorrect because the property does not avoid income tax on appreciation that occurs after the inheritance when it is sold in the future.

Appreciated Property That Was Inherited in 2019