Business & farm

You need to post more details. Are you preparing the return for the deceased family member or yourself as donee or legatee (i.e., for property you were gifted or inherited).

 

Did you inherit (or otherwise acquire) property from the deceased family member, was the property gifted (in whole or in part) to you, et al?

 

Property acquired from a decedent is generally stepped up to its fair market value on the date of death of the decedent.