BobKamman
Level 15
11-02-2024
06:13 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@IRonMaN wrote:
What is the value of a gift when the gift is a something that the person making the gift has inherited?
Do you mean, what is the basis of a gift? Lesser of FMV or donor's basis. Usually, it's donor's basis. The question here is whether the property was inherited from grandfather (as a remainder interest) or father.