Generally, property inherited from a decedent gets a basis equal to the property's fair market value on the date the decedent died. This rule applies regardless of whether a federal estate tax return ...

When you receive any house property or land from your parents either by way of gift or inheritance, you won’t have to pay tax on that. But if you decide to sell it later, you will be liable to pay ...

Anyone who has inherited property, especially if they’re approaching retirement or already in it, knows it can be a blessing and a challenge. You may have a sentimental attachment to the property and ...

An inheritance is a windfall that can absolutely help someone's financial situation -- but it can make your taxes tricky. If you inherit property or assets, as opposed to cash, you generally don’t owe ...