____ 20. The basis in inherited property is normally determined at the decedent's date of death.

Name: ____ 20. The basis in inherited property is normally determined at the decedent's date of death.
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The basis in inherited property is generally the fair market value of the property at the date of the decedent's death, or an alternate valuation date if the executor chooses to use it. This is known as a stepped-up basis.

____ 20 the Basis in Inherited Property Is Normally Determined at at the Decedent's