Death

eliminates or transfer

property equal to its

adjusted basis or market value

Nicholas owns business equipment with a $155,000 adjusted basis; he paid $200,000 for the equipment, and it is currently worth $173,000. Nicholas dies suddenly, and his son Alvin inherits the property. What is Alvin's basis for the property What happens to the f 1245 depreciation recapture potential? Death all recapture potential, and the inheritor of the property gets a basis for the property equal to its at the date of the decedent's death. Therefore, Alvin's basis for the property is