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Question

Tax Rate Passover

Forum|Forum|3 years ago
November 16, 2022
1 reply
18 views

How can one who inherits property get the same tax rate as the descendant?

Employee Tax Expert

Employee Tax Expert

When you inherit property the basis is now the value at the date of death. Income on the property is now included on your tax return and is taxed at you income tax bracket. If a rental property the depreciation is based on the new value and the taxable income may be reduced. If it is stock or other capital asset, the gain or loss is based on the new value and that may reduce the gain.

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