The so-called “step-up in basis” rule is a crucial aspect of U.S. tax law that can significantly affect the taxation of inherited assets. This provision, which is codified within the Internal Revenue ...

Inheriting an asset grants a step-up in basis, setting cost basis to FMV at death, reducing capital gains tax. Controversy surrounds step-up in basis, as it significantly lowers taxes on inherited ...

EXCLUSIVE: There will be no fourth season of Step Up (fka Step Up: High Water). Starz has canceled the drama series after its one-season run on the network. The upcoming Season 3 finale, slated to ...

Estate planning has long been about building and preserving wealth, minimizing taxes and smoothly transferring assets across generations. With the new administration in office, discussions around ...

A step-up in basis occurs when an appreciated asset is inherited from someone who has died, and the asset's cost basis is adjusted to fair market value as of the date of death. The cost basis of an ...