The question was being posed as to whether you get both the step up basis on date of death and the 121 exclusion, which might have kicked in if the actual sale by the estate did not occur until a year or two later and the resulting sale resulted in a capital gain even after the step up in basis. I believe that if the repeal of the 121(d) (9) provision eliminates the estate from claiming the 121 exemption, then there is no statutory position for the estate claiming the 121 exclusion. however, I just wanted to confirm that you are not entitled to both exclusions just in case.
