Generally, property inherited from a decedent gets a basis equal to the property's fair market value on the date the decedent died. This rule applies regardless of whether a federal estate tax return ...

To determine if the sale of an inherited property is subject to taxes, establishing your basis in the property is crucial. Generally, the basis is the fair market value (FMV) of the property on the ...

Usually, when a person inherits an asset, they inherit the asset and step up the value of the asset at the time of the person’s death. (Dreamstime/TNS) Perspective by Ilyce Glink and Samuel J. Tamkin ...

Baby boomers hold more than $19 trillion in real estate wealth, much of which is expected to pass to their children and grandchildren over the coming decades in what some economists are calling a ...

New Delhi: When you receive a house or land from your parents through gift or inheritance, you don’t have to pay any tax at the time of receiving it. However, if you decide to sell that property later ...