I noticed this tweet from a wealth adviser: “The greatest perpetuator of U.S. wealth inequality is the stepped-up basis rule. Basically, when you die, all the capital gains on your assets (home, ...

Business entity choice determines whether heirs get stepped-up basis on farm assets or just ownership shares upon death.

Stepped up basis can minimize the tax bill. Basis is a key concept to understand here. Let’s say you bought a bunch of stock for $100,000 and a few years later sold it for $250,000. To understand how ...

Do funds in a Roth IRA get the benefit of a stepped-up basis for my heirs when I die? – Ed No, the cost basis of the assets held within your IRA will not step up or reset to their current market value ...

As congressional lawmakers turn their attention to taxes, farmers and ranchers are urging them to include estate tax repeal in any tax reform legislation they consider this year. “The estate tax is ...

Inheriting property can feel like both a blessing and a burden. You're dealing with loss, memories, and suddenly there's a mountain of paperwork with tax implications you never anticipated. The IRS ...

Inheriting a home can be both a gift and a challenge. Alongside the emotional weight of loss, you might also face tough financial decisions, especially if you plan to sell the property. One of the ...

In today's Living Akamai segment, John spoke with Kay Mukaigawa of Engel and Volkers Honolulu about an important topic in real estate and estate planning: cost basis and the stepped-up basis rule.

Question: My husband passed away late last year, and I am about to sell our home to move into an assisted living facility. We purchased our home 43 years ago for about $60,000 and made at least ...