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 ...

What Is the Step-Up in Basis? The step-up in basis is a tax provision that helps beneficiaries lock in the cost basis of assets at the time they inherit them from a benefactor. Many assets such as ...

Forbes contributors publish independent expert analyses and insights. I write about charitable giving and estate planning ideas. Many taxpayers created irrevocable trusts and transferred significant ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in ...