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 ...

AI agents and agentic workflows are the current buzzwords among developers and technical decision makers. While they certainly deserve the community's and ecosystem's attention, there is less emphasis ...

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 ...