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Category:
Tax Planning, Estate Planning

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

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
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Will I Receive A Step-Up In Basis For This Gifted Property?
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Can I Do A Net Unrealized Appreciation (NUA) Distribution?
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Will My Roth IRA Conversion Be Penalty-Free?
Category: Tax Planning
Should I Contribute To My Roth IRA Vs. My Traditional IRA?
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Will I Have To Pay Tax On My Qualified ESPP?
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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?
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Where Should My Next Dollar Go?
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