If inherited property from your parents, what would be your basis? For instance,

Question

If inherited property from your parents, what would be your basis?
For instance, if you inherited a stock and your mom did not have a basis but the FMV value is $100,000. What would be your basis? If inherited property from your parents, what would be your basis?
For instance, if you inherited a stock and your mom did not have a basis but the FMV value is $100,000. What would be your basis?
For instance, if you inherited a stock and your mom did not have a basis but the FMV value is $100,000. What would be your basis?

Explanation / Answer

When any person Receive property as inherent then such property will not going to taxable in hands of receiver.

However such property will taxable in hands of receiver when such property will sale by him, the basis for calculating cost of aqusition of such property is fair market value of such property to the previous owner.

So when son sale such property the for the purpose of calculating capital gain cost of acquisition will be fair market value in hands of parents that is $100000

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