How this key tax law can save your heirs thousands in capital gains tax
Your home asset example for the step-up in basis rule is quite clear. But does this also apply to investments, such as equities, mutual funds, etc., which your loved one may have left to you either in a will or trust?
Do you lose the step up basis if the property is in an irrevocablr trust because it is now not part of the deceased taxable estate.
Anyhthing i can do to put in irrevocable and keep it part of my taxable estate?
Your home asset example for the step-up in basis rule is quite clear. But does this also apply to investments, such as equities, mutual funds, etc., which your loved one may have left to you either in a will or trust?
Do you lose the step up basis if the property is in an irrevocablr trust because it is now not part of the deceased taxable estate.
Anyhthing i can do to put in irrevocable and keep it part of my taxable estate?