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Step Up in Basis
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1:08
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Steve Saxton Mortgage Lender
5.3K views · 31 reactions | Understanding Stepped-Up Basis (IRC...
Steve Saxton Mortgage Lender. . 🔍 Understanding Stepped-Up Basis (IRC Code 1014) – Why It Matters for Inherited Property! Did you know that when you inherit property, the tax basis of that asset “steps up” to its fair market value (FMV) at the date of the original owner’s death? This is known as the stepped-up basis, and it’s a ...
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