10 ms·
It still doesn't make sense to me. If I inherit a farm or other asset, I don't owe capital gains until I sell it right? If the basis remained the same, it's not
by alach11 3y ago
It still doesn't make sense to me. If I inherit a farm or other asset, I don't owe capital gains until I sell it right? If the basis remained the same, it's not like I suffer in any way upon inheritance.
- megaman821 3y agoI am not a tax expert, but I am pretty sure a change of ownership (minus the exempt amount) is a taxable event.