Thank you. I see lots of responses stating that FMV on date-of-death is to be used to determine cost basis when one goes to sell the inherited property, but....
1) How do we determine FMV?
2) Do we need to engage a formal assessor or real estate agent to obtain an FMV? Is that good enough?
3) What's the true book-of-record the IRS will refer to when determining if there was a captain gain or not?
Thank you, Ed
