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  2. Stepped-up basis - Wikipedia

    en.wikipedia.org/wiki/Stepped-up_basis

    Section 2032 provides an alternate method of determining the property's new basis. If the property is not disposed of within six months of the decedent's death, the executor may elect to use the property's fair market value six months after the date of death but only if such an election results in a decrease in the value of the gross estate. [2]

  3. Do I Pay Taxes Automatically If I Inherit Property? - AOL

    www.aol.com/finance/capital-gains-inherited...

    An inheritance is a windfall that can absolutely help someone's financial situation -- but it can make your taxes tricky. If you inherit property or assets, as opposed to cash, you generally don ...

  4. How to Avoid Paying Taxes on Inherited Property - AOL

    www.aol.com/avoid-paying-taxes-inherited...

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  5. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    Under the stepped-up basis rule, [8] for an individual who inherits a capital asset, the cost basis is "stepped up" to its fair market value of the property at the time of the inheritance. When eventually sold, the capital gain or loss is only the difference in value from this stepped-up basis.

  6. How to sell an inherited house: What you need to know - AOL

    www.aol.com/finance/sell-inherited-house-know...

    “When a person inherits property, they receive a ‘stepped-up’ basis, meaning the property’s tax basis is adjusted to its fair market value at the time of the previous owner’s death ...

  7. Estate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Estate_tax_in_the_United...

    Inheritance taxes are paid not by the estate of the deceased, but by the inheritors of the estate. For example, the Kentucky inheritance tax "is a tax on the right to receive property from a decedent's estate; both tax and exemptions are based on the relationship of the beneficiary to the decedent." [52]

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