Which of the following scenarios does not use cost of acquisition to determine the basis of an asset?

The scenario involving the inheritance of property does not use the cost of acquisition to determine the basis of an asset. When property is inherited, the basis is generally stepped up (or down) to the fair market value of the property at the time of the decedent's death, rather than the cost the decedent originally paid for it. This "step-up" basis is designed to minimize capital gains taxes for heirs if they decide to sell the inherited property.

In contrast, the other scenarios involve transactions where the purchase price or costs incurred are used to establish the basis of the asset. For example, purchasing a vehicle or acquiring a copyright directly ties the asset’s basis to the amount paid. Similarly, if a home is renovated, the renovations can increase the basis of that asset as they contribute to its value.