fpPathfinder

Helping Diligent Advisors Ensure They're On The Right Planning Path

Already a Member? Login
Need Help?
Refer Friends
GUIDES
All Guides
Categories
General
Cashflow Important Dates & Numbers Recurring New Client Family-Related Service Calendar Debts Caring Loved Ones Divorce Planning College Planning / Funding Deliverable Age-Related Planning 20s-30s Age-Related Planning 40s-50s Age-Related Planning 60s Age-Related Planning 70s
Working / Accumulation Phase
Employee Benefits-related Planning Issues Business Owners Saving For Retirement Stock Options
Retirement / Decumulation
Social Security Healthcare Distributions Misc. Charitable Giving
Tax Planning
Business Owners Review Tax-related Documents Misc Sale of Asset Deductions & Credits Important Tax Concepts & Numbers Taxable Distributions
Insurance Planning
Medicare Property Annuities Life Insurance Long-Term Care Insurance Health Insurance
Estate Planning
Chartible Giving Inheritance Loss of Loved One Step Up Estate Planning Documents
Assets and Investment Planning
HSAs IRAs Annuities House and Home Investments Stock Options
Life Events
Child-Related Job-Related Death Marriage Divorce Sudden Wealth Event Moving/Home-Related Starting Or Selling A Business Starting Social Security Unique Life Event/Other Starting Retirement Medicare-Related Starting RMDs
One-Click Downloads
Full List Of Guides
Guide Recommendation Tool
Guide Recommendation Tool
Go Back
Category:
Tax Planning, Estate Planning

Will I Receive A Step-Up In Basis For The Appreciated Property I Inherited?

Updated 12/1/2023

In most cases, there is a step-up in basis when property is transferred from a decedent. But there are a few exceptions and some subtle distinctions to keep in mind when a client inherits property.

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

  • Impact of living in a community property state
  • Types of property that receive a step-up
  • Impact of selecting the alternate valuation date
  • Simple ownership vs. JTWROS vs. tenants in common
Related Guides
Will I Receive A Step-Up In Basis For This Gifted Property?
Category: Tax Planning, Estate Planning
Can I Do A Net Unrealized Appreciation (NUA) Distribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning
Will My Roth IRA Conversion Be Penalty-Free?
Category: Tax Planning
Should I Contribute To My Roth IRA Vs. My Traditional IRA?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Will I Have To Pay Tax On My Qualified ESPP?
Category: Working / Accumulation Phase, Tax Planning
Should I Consider Doing A Roth Conversion?
Category: Tax Planning
Pay Stub Review
Category: Tax Planning
Do I Need To Start Making Estimated Federal Income Tax Payments?
Category: Tax Planning
What Will Have The Least Tax Impact: Harvesting Capital Gains Or Roth Conversions?
Category: Tax Planning, Assets and Investment Planning
Is My Rental Property Tax Deductible?
Category: Retirement / Decumulation, Tax Planning, Assets and Investment Planning
Where Should My Next Dollar Go?
Category: General, Tax Planning
Can I Make A 529-To-Roth IRA Transfer?
Category: Tax Planning
What Issues Should I Consider When Doing A Section 1035 Exchange?
Category: Tax Planning, Insurance Planning

Getting Your Referral Stats

What Customers Are Saying About Us

Hundreds of other advisors are actively using fpPathfinder. Read what those lovely people have to say about us.
“What you guys have created is pretty badass! I’ve used your material for both client meetings and prospective clients.”
— An advisor in California
“fpPathfinder has been critical in my execution of financial planning. They provide well thought resources for when clients face specific problems, and I use them over and over again.”
— Roger Whitney, CFP®️, CIMA®️, CPWA®️
“It's hands-down the best collection of client-facing resources I've found anywhere. The checklists are amazing too, to make sure I'm not forgetting anything in a review.”
— An advisor in Kentucky
“The flowcharts give me a lot of confidence. Candidly, I sometimes worry that I might miss something when planning for my clients. The flowcharts give me confidence that I won't.”
— An advisor in Virginia
“Thank you for creating a robust, yet very practical, planning tool.”
— Andy, an advisor in Florida
“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
“I really love the flowcharts and they are helping me explain difficult decision points/rules to my client base. In fact, I plan to upgrade so I can use some of the material on my website with my own branding.”
— An advisor in Texas
Become a Member

Sign Up to Receive Updates

Join our mailing list to be updated as we release new flowcharts and checklists that might be of interest.
  • This field is for validation purposes and should be left unchanged.
Close