1031 Inheritance Question
Cheapskate me, still asking for freebie information on this:
When one inherits a 1031 property does the value of the property cease to be the original tax base? Does the value re-adjust to value at date of death of the owner (like it does when Junior inherits Pop's house)?
I find that a bit too good to be true. I'm asking because we own a 1031 property with a miniscule tax base that will eventually go to our DS.