Question

If property is inherited by a taxpayer,

Answer 1

Answer:

Correct option is A.

In general, the basis to the recipient is the fair market value at the decedent's date of death.

Explanation:

If property is inherited by a taxpayer, In general, the basis to the recipient is the fair market value at the decedent's date of death.

As per the  the law when property is transferred on account of death, then basis to the recipient is the fair market value at the time of death of decedent's.