Step-up in basis is a tax rule where the basis of inherited property is calculated as the fair market value of the asset on the date the previous owner died, rather than the original cost of the asset.

Authors

• Person: Not available Organization: Center for American Progress
  How the Government Subsidizes Wealth Inequality

Sources

• How the Government Subsidizes Wealth Inequality www.americanprogress.org Center for American Progress via serper

Referenced by nodes (1)

• step-up in basis concept