What is Step-Up Basis and How is it Beneficial for Trusts and Estates? Step-up basis allows for the tax basis to be stepped up to fair market value upon the transfer of an asset at death. What is basis? The IRS defines basis as “the amount of your capital investment in property for tax purposes.”
RJS LAW - Tax and Estate Planning
RJS LAW: San Diego Tax Attorney | IRS | FTB | CPA | California
