29 Jun The Significance of Stepped Up Basis in Estate Planning IRC 1014
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in Stepped Up Basis, Basis, Cost Basis, Death, Estate Tax, Generation Skipping Transfer Tax, Gift Tax, Tax planning, Trusts
According to Internal Revenue Code Section 1014 the basis of property acquired from a decedent is the fair market value of the property at the date of the decedent’s death. In an environment of inflating asset prices this usually means that the beneficiary experiences stepped up basis...