That's the way I read it. The basis of inherited property is established as the FMV (Full Market Value) of the property at the date of the decedent's death. There are exceptions for conservation easements and real property used in farming or a 'closely held business' and you'll probably need to get professional guidance there. Don't forget, the FMV at time of decedant's death is also used for calculating estate and inheritance taxes.

I�m sorry I neglected to name the brand in my first post. I eliminated the one system that was only 14 SEER. The brand the second guy is pushing is Amana and I have included the models numbers for those systems in this update of the three proposals I�m considering. I live in MD. Both guys did a load calculation and checked the ductwork, etc. I am replacing inside and outside units, I am getting my ductwork sealed, and I am about to have a whole house energy audit done, but I have to get this heat pump ordered before I can do anything else! I just found out that the guy we�ve been using for 20 years, and who we have been very happy with, is not an authorized dealer for any brand. He is the one recommending the Bryant. I don�t know how this news should affect my decision? This is the first I�ve heard of electronic demand defrost! Here are the updated proposals: The first guy offers the following: Bryant Preferred Heat Pump, Bryant Preferred Variable Speed Fan Coil. � ARI Rating of 15.0 SEER with Certificate � National Average Operating Cost for this System is $1031/yr � Honeywell Bypass Humidifier � Manual J approved Load Calculation � Fully sealed ductwork (UL Listed foil backed tape) where we install � Recovery and Disposal of Old R-22 � Removal and Recycling of Old Equipment � New Outdoor Electrical Disconnect � UV Resistant Re-Enforced Plastic Pad � 6" Plastic Legs � Honeywell Digital Set Back Thermostat for Added Energy Savings � Clean Copper Line Set with Approved Cleaner � Honeywell MERV 10 Filter for Clean Indoor Air � � Five Year parts warranty � Five Year labor warranty � Ten Year compressor warranty The total cost of the installation is: $7,951 The second guy offers: System #1 Amana SSZ14 www.amana-hac.com/Home/Products/HeatPumpSystems/SSZ14Distinctions/tabid/641/Default.aspx - 14 SEER Condensing unit (outside) with single speed fan motor and high-efficiency Copeland scroll compressor - Air Handler (inside) with Variable Speed blower motor (brings system up to 16 SEER) and electric back up heat - New 25ft Line Set - Digital Programmable Thermostat - A new pad for your condenser to sit on outside - All Labor (includes disposal of old equipment) - Lifetime Compressor Replacement Warranty - 10yr Parts Warranty - 10yr Labor Warranty Total: $8,752 System #2 Amana ASZC16 ttp://www.amana-hac.com/Home/Products/HeatPumpSystems/16SEERASZC16/tabid/856/Default.aspx - 16 SEER Condensing unit (outside) with 2-speed fan motor and 2-stage Copeland UltraTech scroll compressor - Air Handler (inside) with Variable Speed blower motor (brings system up to 17 SEER) and electric back up heat - New 25ft Line Set - Touch Screen Programmable Thermostat - A new pad for your condenser to sit on outside - All Labor (includes disposal of old equipment) - Lifetime Unit Replacement Warranty - 10yr Labor Warranty - One Year Club Membership (Service Contract) - This system is eligible for $500 Federal Tax credit Total: $10,830

Complex and should be answered by an expert. Call your CPA or a 1031 exchange expert. Most attorneys do exchanges but call an expert instead. Starker does the majority nation wide and will give free advice even though there will not be an exchange here. In most states the capital gains isnt all that bad its the depreciation. I also believe he may get around it as a realitve lived there 2 of the past 5 years.

I don't know, I think people can be into math and numbers and also into words and reading and also into design and art. One can be an athlete as well as any of the above. I guess the questions try to put people in one camp or the other, but most people don't fit fully on either side, unless they have extreme personalities. I'd hate to be so predictable as to stick with one label. I pay attention to a lot of different areas, but also know I have a lot of blind spots. I can't fix a car, never got the complexities of chess and and not good at any games with ball throwing or worse, being thrown at. Ask me about world events and I do pretty well. Ask me about pro basketball/hockey/soccer/tennis and I am lost. Challenge me to a game of cards (canasta, pinochle or spades) and I will kick booty. No once can be great at everything, but one can be interested in a bunch of things. As much as I like numbers and have a talent for doing math in my head, I don't think of myself as a numbers person, per se. I can be analytical and I can also be emotional. Some decisions are driven by one and some the other. Hopefully, most include both areas. In any case, I like quirky and unexpected with design, so you won't see my kitchen in anyone else's house. I may have copied bits and pieces, but the total will be our own design (for better or worse, lol). Most of the design is from my imagination, but dh has had some input too and so it is a collaboration overall. I think our kitchen reflects our sensibilities a bit, so it can be a clue to our personalities in a way. I bet a profiler could deduce a lot from how people design their kitchens. Math has nothing to do with it....