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Bookmark or Share- Step-Up In Basis | TaxEDU Glossary - Tax FoundationThe step-up in basis provision adjusts the value, or “cost basis,” of an inherited asset (stocks, bonds, real estate, etc.) when it is passed on, after death. This often reduces the capital gains tax owed by the recipient.
- Step-Up in Basis: What It Is & How It Works | Seeking AlphaThe step-up in basis is a tax provision that helps beneficiaries lock in the cost basis of assets at the time they inherit them from a benefactor. Many assets such as stocks and real estate...
- Step-Up in Basis: Definition, How It Works for Inherited PropertyStep-up in basis, or stepped-up basis, is what happens when the price of an inherited asset on the date of the decedent's death is above its original purchase price.
- All About the Stepped-Up Basis Loophole - SmartAssetA stepped-up basis is a tax law that applies to estate transfers. When someone inherits investment assets, the IRS resets the asset’s original cost basis to its value at the date of the inheritance. The heir then pays capital gains taxes on that basis.
- Step-Up in Basis and Why It Matters in Estate Planning - ElderLawAnswersWhat Is the Step-Up In Basis? The step-up basis is a provision in federal tax law. It determines how assets are valued for calculating capital gains taxes when a person passes away, leaves these assets to heirs, and those assets are sold. So, for example, imagine a person passes away and leaves their home to their children through their will.
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