flowchart

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.

This flowchart covers the key issues to consider when inheriting 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

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

We respect your privacy. Unsubscribe at any time.