Appreciated Property That Was Inherited in 2017

question 30

Multiple Choice

Appreciated property that was inherited in 2017

• A) will have a stepped-up basis.
• B) avoids income tax on the appreciation prior to the date of death.
• C) avoids income tax on any post inheritance appreciation on a future sale.
• D) (a) and (b) only.

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Definitions:

Timely Payments

Refers to the act of paying dues or bills on or before the due date.

Loans

Money that is borrowed, often from a bank, that is expected to be paid back with interest.

Probability

An assessment of the chance that an event will take place.

Coin

A flat, typically round piece of metal with an official stamp, used as money or in games.