A step-up in basis occurs when an appreciated asset is inherited from someone who has died, and the asset's cost basis is adjusted to fair market value as of the date of death. The cost basis of an ...

Inheriting an asset grants a step-up in basis, setting cost basis to FMV at death, reducing capital gains tax. Controversy surrounds step-up in basis, as it significantly lowers taxes on inherited ...

Estate planning has long been about building and preserving wealth, minimizing taxes and smoothly transferring assets across generations. With the new administration in office, discussions around ...