If Property Is Inherited by a Taxpayer

question 26

Multiple Choice

If property is inherited by a taxpayer,

• A)To the recipient, the basis for the property is the same as the basis to the decedent.
• B)At sale date, the basis of the property to the recipient differs depending on whether the property was sold at a gain or a loss.
• C)At sale date, the recipient will not have a gain or loss even if the recipient has held the property for more than a year.
• D)In general, the basis to the recipient is the fair market value at the decedent's date of death.