while states that don’t recognize this form of ownership are generally called common law states.** A unique basis step-up rule applies to married couples who own community property. It provides ...

This means that if you inherit property, stocks or any other form of asset ... the IRS applies what is known as a stepped-up basis to that asset. This means that for tax purposes the base price ...

Most people viewed this as a victory for not eliminating the step-up in basis at death. However, this is just the House bill. We continue to hear chatter, including an article in the Wall Street ...

As I got to reviewing her investment statements, I immediately noticed something was wrong: The cost basis of the stocks in the joint account were never stepped up to her husband's date of death.

Understanding and applying the basis step-up rule can significantly cut heirs' tax liabilities. Key findings are powered by ChatGPT and based solely off the content from this article. Findings are ...

There are many aspects to this form of taxation that we will ignore to concentrate on one of the oddest, in my opinion – the basis step-up. Consider this example: A farmer buys a parcel of land ...

Jeffrey Levine, chief planning officer at Buckingham Wealth Partners, discusses in this Retirement Daily video whether trust assets get a step up in basis. When my dad passed away 30 years ago his ...