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Internal Revenue Code, § 1014. Basis Of Property Acquired From A Decedent

I.R.C. § 1014(a) In General
Except as otherwise provided in this section, the basis of property in the hands of a person acquiring the property from a decedent or to whom the property passed from a decedent shall, if not sold, exchanged, or otherwise disposed of before the decedent's death by such person, be—
I.R.C. § 1014(a)(1)
the fair market value of the property at the date of the decedent's death,
I.R.C. § 1014(a)(2)
in the case of an election under section 2032, its value at the applicable valuation date prescribed by such section,
I.R.C. § 1014(a)(3)
in the case of an election under section 2032A, its value determined under such section, or
I.R.C. § 1014(a)(4)
to the extent of the applicability of the exclusion described in section 2031(c), the basis in the hands of the decedent.
I.R.C. § 1014(b) Property Acquired From The Decedent
For purposes of subsection (a), the following property shall be considered to have been acquired from or to have passed from the decedent:
I.R.C. § 1014(b)(1)
Property acquired by bequest, devise, or inheritance, or by the decedent's estate from the decedent;
I.R.C. § 1014(b)(2)
Property transferred by the decedent during his lifetime in trust to pay the income for life to or on the order or direction of the decedent, with the right reserved to the decedent at all times before his death to revoke the trust;
I.R.C. § 1014(b)(3)
In the case of decedents dying after December 31, 1951, property transferred by the decedent during his lifetime in trust to pay the income for life to or on the order or direction of the decedent with the right reserved to the decedent at all times before his death to make any change in the enjoyment thereof through the exercise of a power to alter, amend, or terminate the trust;
I.R.C. § 1014(b)(4)
Property passing without full and adequate consideration under a general power of appointment exercised by the decedent by will;
I.R.C. § 1014(b)(5)
In the case of decedents dying after August 26, 1937, and before January 1, 2005, property acquired by bequest, devise, or inheritance or by the decedent's estate from the decedent, if the property consists of stock or securities of a foreign corporation, which with respect to its taxable year next preceding the date of the decedent's death was, under the law applicable to such year, a foreign personal holding company. In such case