Bloomberg:  “Those who inherit estates worth more than $1.3 million this year face an expensive quandary caused by the repeal on Jan. 1 of the 94-year-old federal estate tax, Bloomberg Markets magazine reports in its June issue.  Under a little-noticed twist, these people will owe capital-gains taxes if they sell assets they inherit.”

See “Bloomberg.com article captures the confusion caused by the repeal of the estate tax.”