Quote:
Originally Posted by Rhotchkiss
No tax. At death, the basis becomes fair market value. If you then sell it for fair market value, no tax. But make sure you can prove that at death it was worth what you sold it for
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So, this is kind of like stock. The price of the stock is set to the value when the person dies and the person that inherits it has to claim gains based on that amount. Is that right?