Generally, property inherited from a decedent gets a basis equal to the property's fair market value on the date the decedent died. This rule applies regardless of whether a federal estate tax return ...

What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis? Or do they only ...

Advice offered by Marc Hebert, president of The Harbor Group Inc., a certified financial planner. If you have any questions about finance or if you'd like to suggest a future topic, email ...

The IRS finalized regulations (T.D. 9991) on the statutory requirement that the basis of property acquired from a decedent be consistent with the basis reported on the estate tax return. Generally, ...

Significant coverage was devoted at the recently concluded 51st Annual Heckerling Institute on Estate Planning in Orlando, Fla. to the Internal Revenue Service’s proposed regulations (proposed regs) ...

I am selling 50 acres of ranch land that was gifted to me by my uncle in 2000. That ranch land was gifted to him by my grandfather in approximately 1975. The property was acquired by my grandfather in ...

Q. You’ve addressed the tax implications for inherited property and the stepped-up basis applicable to the individual inheriting the property. Does this stepped-up basis apply to couples who have, in ...

A short grantor trust walks into a bar. After a few too many drinks he starts flirting with a pretty beneficiary, promising her a step up in his assets. But before he seals the deal, the bartender ...

Location, location, location is not just vital in real estate. Where you live also can have critical tax implications for your taxes, especially for married couples. There are two very different kinds ...