The difference if it was a democrat who had 3 wives, paid off porn stars, or wore orange make up, or talked about dicks, or called a women shit the right would have a melt down. People talk about Trump because he is unstable and wants to be talked about.
the base price is the price when you inherit it. Not when it was purchased. They do try to make it up with estate taxes but if the amount is less than 13 million there are no estate taxes.
No if you inherit anything, there are no capital gains, all those are wiped out. So if you inherit a house that was purchased for $100 and now is worth $1 million that $900 thousand in gains disappears. Its called stepped up valuation. The only case you would be taxed is if it is an IRA or 401K that was never taxed
Comments made by longb