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Paying Taxes on Inherited Stock

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Thank you so much!!! So inherited IRA distributions are treated like regular income (but in IL I don't think I have to pay state or FICA tax) and a regular investment account with securites can be sold and treated as long term captal gains instead of income tax And with a step up cost basis, if sold right away There would be no taxes? And if it went down before I sold, I could write off capital losses and also pay no income tax? Comment from : WhatAbout Bob

Very subjective advice What if those are great stocks and do nothing but grow? Comment from : ProfessionalDad

But what if the person who owned the stock bought the stock for $10? Would you not have to pay capital gains tax on the profit from $10 to $34? Comment from : Tyler Bredice

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