Posts Tagged ‘Long Term Gains’


The Difference Between an Inherited Asset and a Gift Received

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Whether you receive an asset from inheritance or from a gift can have significant tax impact when this asset is sold.

Inherited Asset

For an inherited asset you generally take this asset over at the Fair Market Value at the Date of Death. This value would be listed on the probate inventory.  Additionally for a Connecticut decedent it would be listed on … Continue reading »