Inherited property often receives a new tax basis at death, but the result depends on ownership, fair market value, community property, joint tenancy, rental use, and important exceptions. Learn how to establish and document basis before the property is sold.

California Proposition 19 can limit property tax reassessment when a child inherits a parent's principal residence, but residence, filing, and value cap rules apply. The current adjustment is $1,044,586 for transfers through February 15, 2027.