Does inheritance count for 1031 Exchange?

[Mindy Jensen]

A friend inherited his grandmother's property through his mother's estate. He'd like to sell in the Spring and is asking about a 1031.

I think since it is inherited, the cost basis is reset to today's value, and he can sell and pay no cap gains taxes, which is better than 1031. But I've long since learned that I don't know enough about 1031 Exchanges to give solid advice.