Correct. However, from a perspective of principle, there is something disturbing about the idea of having been taxed over & over income tax, sales tax, property tax, all of the taxes thru manufacture,& transport of all of the goods we enjoy. only to be followed up,after your death,with u guessed it. more taxes, on the assets u were already taxed on. now i understand it is a revenue stream that contributes to many good things,but the convolution of the tax system is what keeps the people ignorant, & the politicians in office.