Cost basis on inherited property

[Osueileen32]

When my mom passed in 2020 property was placed in a trust. Now two years later the trust transferred the property to me. I then sold the house. Is my stepped up cost basis the value on the date she died? Or the date I received the property from the trust?

[tagteam · Accepted solution]

Per Section 1014, the basis is the fair market value on the date of death assuming the trust was a standard revocable trust (a grantor trust) that became irrevocable on the date your mom passed away.