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#8
01-21-2010, 11:42 AM
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It seems to me, notwithstanding Calvin's comment, that if you "inherit something you inherit it with a valuation as of the date of death or six months thereafter. This is called a "stepped-up basis"
Then if you sell it, assuming you sell for the value so determined above, you incur no taxable event. I could be wrong but then I've never stayed at a Holiday Inn Express. 
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