the inheritance tax is paid by the estate giving the inheritance to you, not by you.
yes that is true, but if it is real estate....did you sell it?
You get the adjusted basis of the value of the property as of the date of death. Have a RE professional give you a market price as of the date of death. That is your new stepped up basis that you inherit. If you sell the RE within a year then you will owe short term cap gains if there are any. If you sell it after a year you get long term tax treatment on any gain.
ymmv
I remember from 20 years ago that if you inherited an asset, such as land or stocks, your basis in the asset would be fair market value at the time of death. If the asset was given to you before grandma (for example) died your basis would be the fair market value of the asset when grandma bought it. If you sold the asset that was given to you before grandma died you would have a large capital gain and big tax. If you inherited the asset after grandma died and subsequently sold the asset the capital gain would probably be much less.
Bottom line, it is better to inherit an asset than to have it given to you before the grantor (giver)dies.