state inheritance tax

[Maggie]

A client inherited KY mineral rights. He paid the inheritance tax on the value of the rights as of the DOD of the owner. Does his step up in basis (FMV on DOD) also get increased by the amount of the inhertance tax paid?

[FEDUKE404]

Paid by whom?

A client inherited KY mineral rights. He paid the inheritance tax on the value of the rights as of the DOD of the owner. Does his step up in basis (FMV on DOD) also get increased by the amount of the inhertance tax paid?

A recipient usually does not even pay the inheritance tax.

Something is missing here....

FE

[Burke]

KY levies an inheritance tax on certain beneficiaries. But wouldn't he have a deduction on Sche A for that?

[Maggie]

state inheritance tax

Client doesn't have enough to itemize deductions.