The so-called “step-up in basis” rule is a crucial aspect of U.S. tax law that can significantly affect the taxation of inherited assets. This provision, which is codified within the Internal Revenue ...

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 ...

Dear Liz: I own a house with my longtime boyfriend. If one of us dies, how does the capital gains step-up affect the other? Answer: The deceased partner’s share of the home will get a new basis for ...

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 ...