Step-Up In Basis Rules For Gifted Property

Already a Member? Login

GUIDES

All Guides

Will I Receive A Step-Up In Basis For This Gifted Property?

In most cases, there is no step-up in basis when property is gifted. But there are a few exceptions to the general rule, which can be difficult to remember.

To help make this analysis easier, we have created the “Will I Receive A Step-Up In Basis For This Gifted Property?” flowchart. It addresses some of the most common issues that arise for a client trying to understand their cost basis in property they received as a gift. This flowchart considers:

Double basis rule
Impact if gift tax was paid by the donor
Situations where cost basis carries over
Situations where there is a partial step-up in basis
Situations where no gain or loss is recognized

Become a Member

View Sample

Related Guides

Step-Up In Basis Rules For Appreciated Property

Category: Tax Planning

“With all the aspects of running a business, working with varying client scenarios, and knowing how much information is available, I like being able to look at a flowchart and just see what I need to see.”

— Mike, a financial advisor

“This is one of my best subscriptions I pay for!”

— Sean, an advisor in California

“I think it’s the bees knees! I think it provides me and my clients the most value of any of the services we use at my firm. Everything is well-designed and the amount of material you guys pack into a page without it being overwhelming is AMAZING!”

— An advisor in Kentucky

“fpPathfinder is fantastic. I really can't find any flaws.”

— Joshua, an advisor in Pennsylvania

“Our firm had been looking for something like this for so many years. A standardized checklist or flowchart of important issues to consider, and a way to integrate the responses into our system. When we stumbled across your service, I couldn't have signed up any quicker. We now use the checklists to conduct monthly webinars about the all of the important topics”

— An advisor in Texas

“The flowcharts have helped a lot in recent discussions with the changing markets, providing us with confidence that our clients are getting the best, most accurate information.”

— Matthew, an advisor in Georgia

“With working from home most of 2020, we wanted to still catch some face time with our clients. We used the checklists and flowcharts to conduct webinars covering various topics. In fact, having the charts readily available, we were able to do many of these on a weekly basis, knowing the material was pretty much already established. We had such great feedback that we are continuing the webinars into 2021. We have many that actually look forward to our meeting times, and found being able to have the flowchart or checklist available to work on their own later was an added bonus.”

— An advisor in Texas

Congrats!

Welcome Aboard!

Account Set-up

Tailor Your Experience

Congrats!