Why are professional written document important?

It gives proof that you did it.

Explanation:

Written documents show that you did it and it if that is questioned, you have the proof to show for it.

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Explained

Explanation:

Asset received as Inheritance and Asset received as a gift could cause the substantial difference in the adjusted basis for Robin’s and Albert’s respective 1,000 shares of Wal-Mart stock

When someone gives you cash or other valuable assets, do you owe income tax:’ No. The same is true if you receive an inheritance. The giver may owe gift tax and the decedent’s estate may owe estate tax but you, as the recipient, won’t owe income tax.