The basis of property inherited from a decedent is generally the __________. Purchase price of...
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Accounting
The basis of property inherited from a decedent is generally the __________. Purchase price of the property. Fair market value (FMV) of the property on the date of death or the alternative valuation date. Higher of the decedent's adjusted basis or the fair market value (FMV) on the date of death or the alternative valuation date. Adjusted basis of the decedent on the date of death or the alternative valuation date
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