What is the base cost if the asset was acquired by a will?
By Evan Robinson · Updated
The asset was acquired by a will, so I did not pay anything for it. How do you determine the base cost value.
It would be the market value on the day of death of the person.
An evaluation of an estate agent or the municipal valuation?
The executor of the estate would have had to do this for tax purposes when filing the last tax return so you would use that value.