With the new administration in office, discussions around potentially eliminating the step-up in basis are gaining momentum.

If the value of the asset grows to $150,000 and you decide to sell it, you’ll owe taxes on the $50,000 capital gain. A step-up in basis occurs when the basis of an inherited asset is reset to ...

Because the amount of capital gain determines the amount of capital gains tax owed, basis step-up is considered one of the most powerful and important tools in the estate and tax planning universe.

Rep. Jim Costa (D–Fresno) has introduced legislation that seeks to protect people from having to pay an inheritance tax.

Even though the transfer tax may be “dead”, the elimination of the step-up in basis is still very much alive. Even the House proposal had a very key proposal to eliminate step-up in basis for ...

A step-up in basis can be a massive tax benefit for surviving spouses, but only if it's managed correctly. And sometimes, as in this case, important details can fall through the cracks. Karen, a ...

We support the continuation of an unlimited stepped-up basis for farm and ranch businesses. Estate taxes should be permanently eliminated. The capital gains tax rate should be reduced and assets ...

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions ...

Understanding and applying the basis step-up rule can significantly cut heirs' tax liabilities. Investor Alert: Our 10 best stocks to buy right now › Key findings are powered by ChatGPT and ...