DaveF1006
Expert Alumni

Get your taxes done using TurboTax

It depends. According to this link from IRS.gov., the basis of property inherited from a decedent is generally one of the following: I realize that this publication addresses money but it also means all capital assets used for investment purposes. 

Yes, the long term capital gains on collectibles is 28%. As far as investment expenses, IRS publication 550 defines what investment expenses are deductible. Looking through the publication, I don't see any reference to claiming an expense for the transport of collectibles.  I have looked for other references and cannot find anything that would justify the expense so i will have to say that I would advise against claiming this expense.

 

I realize this was all overwhelming for you and I wish you luck for a favorable outcome. If you have any additional questions, i am here all day so repost if you need to.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"