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.

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 ...

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’re roughly a month from Election Day, and I think it’s safe to say many Americans have strong opinions about who should be our President for the next four years. I also think it’s safe ...

the IRS views the result as objectionable as a tax policy matter because the children will get a stepped-up basis but the parents will not pay tax (by reason of the stepped-up basis at death).

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

The resolution cites a study from the USDA’s Economic Research Service that found 66% of midsize farms would see a tax liability increase if the stepped-up basis was cut.

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 ...