Cost basis for inherited shares

A recent article in the Sun Sentinel says inherited shares of stock have a new cost basis at date of death. My understanding is that the cost basis remains based upon the original purchase price. Could you please let me know where this information came from as I am holding some inherited shares to avoid the capital gains tax at this time. Thank you.

Terry Says:  Well, I know you’ll believe TurboTax so here’s what they say, and a link to the full article:

When you inherit stock or other property, your basis is usually the value of the asset on the date of death of the previous owner. Assuming the asset had appreciated since the original owner purchased it, the basis is “stepped up” to current market value, so the income tax on any profit that built up while the previous owner was alive is forgiven. You are responsible only for the tax on appreciation after you inherit the stock. If the stock price falls before you sell it, you can claim a tax loss. If the stock had lost value while owned by your benefactor, your basis is “stepped down” to the date of death value.