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  3. Study Set
    Concepts in Federal Taxation
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    Exam 9: Acquisitions of Property
  5. Question
    The General Rule for Determining the Basis of Inherited Property
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The General Rule for Determining the Basis of Inherited Property

Question 15

Question 15

True/False

The general rule for determining the basis of inherited property is that the basis in the hands of the heir is its fair market value at the date of death or at the alternative valuation date.

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