Principle
The transfer of inherited assets is not a tax event. The heir steps into the shoes of the testator - the basis of purchase and the day of purchase of the testator.
sale
When the heir sells the property, he pays capital gains tax on the difference from the decedent's original purchase price.
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.