We all know that the estate tax has been repealed for the year 2010 – and that it’s scheduled to come back, in some form, starting on January 1, 2010. But did you know that, along with the estate tax repeal came a change in the income tax rules that apply to inherited property? The change applies for this year only, and here’s how it works: When you inherit property, the IRS assigns a value to the property, called the “basis”. If you sell the property in the future, the amount of your gain … [Read more...] about Inheriting? This Year, It Could Be Pricey