Inherited Property Basis Explained

In this session, I explain inherited property basis.
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[@anastaysiabroccoli]

Thank you. Please continue to update. I take my CPA exam in 2 years.

[@AccountingLectures]

Thank you and please visit the website for more
farhatlectures.com/

[@lycherasbry]

So basically the AVD is like a planning technique. Depending on if the parties want to save on estate taxes now by taking the lower basis at AVD, or save future capital gains tax by taking the higher basis at PVD

[@rae08]

What happens if you want to keep the property?

[@ramumarapeli]

if the heir wants to keep the property his basis in the property will be FMV on the PVD or AVD and it will be used for gain/loss calc when the heir sells the property