4 ms·

You paid nothing but presumably your parents’ estate paid taxes on the deemed disposition at FMV less its basis.

• graton 6y ago
  No, it did not.
  • voisin 6y ago
    So there was a bump in tax basis to FMV that essentially creates a tax free capital gain for the beneficiary?
    • graton 6y ago
      Correct.
    • lakis 6y ago
      Yes