What Is the Step-Up in Basis? The 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 ...

What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis? Or do they only ...

Forbes contributors publish independent expert analyses and insights. I write about charitable giving and estate planning ideas. Many taxpayers created irrevocable trusts and transferred significant ...

The purchase price of an asset is typically referred to as the asset’s basis. Capital gains, or losses, refer to the difference between an asset’s purchase price (basis) and its value at the time of ...

The 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 eliminates the capital gains tax ...