Reply To: Step-Up in Basis

Home Fairmark Forum Taxation of Investments Step-Up in Basis Reply To: Step-Up in Basis


sounds to me like the estate also gets the step up

“6. Update Basis of Assets
Capital gains are relatively rare on an estate Form 1041 because assets generally get a step-up in basis to date-of-death values. ……………………… If the estate sells those assets quickly, there usually is not a lot of time for them to appreciate in value. Any asset acquired from a decedent generates long-term capital gain when it is sold, no matter how long the asset was held before or after the decedent’s death”