Form 1040 - Basis in Inherited Property

Generally, the basis in property you inherited from a decedent is the Fair Market Value (FMV) at the date of the individual's death. However, you should refer to IRS Publication 551 Basis of Assets for additional information and exceptions.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.