There's an argument that for inherited property, the cost basis should be zero since you didn't pay anything for it; you got it for free. Although, that's effe

There's an argument that for inherited property, the cost basis should be zero since you didn't pay anything for it; you got it for free. Although, that's effectively a tax on inheritance that's due at sale, which would probably be a fairly big incentive against ever selling, and instead structuring it as a long-term lease.