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2. Do I Pay Taxes Automatically If I Inherit Property? - AOL

   www.aol.com/finance/capital-gains-inherited...

   Sale price ($500,000) - Stepped-up original cost basis ($500,000) = $0.00 taxable capital gains On the other hand say that you hold the house for a year, during which time the price of this house ...

3. Stepped-up basis - Wikipedia

   en.wikipedia.org/wiki/Stepped-up_basis

   A stepped-up basis can be higher than the before-death cost basis, which is the benefactor's purchase price for the asset, adjusted for improvements or losses. Because taxable capital-gain income is the selling price minus the basis, a high stepped-up basis can greatly reduce the beneficiary's taxable capital-gain income if the beneficiary ...

4. Ask an Advisor: $5 Million Windfall - How Should My Kids ...

   www.aol.com/ask-advisor-kids-inherited-5...

   This is called a stepped-up basis. This potentially creates a tax-saving opportunity for your children. If the stock’s value has fallen by 30% since their father passed, then there isn’t ...

5. Ask an Advisor: How Can We Avoid Capital Gains Tax on a ... - AOL

   www.aol.com/ask-advisor-were-inheriting-house...

   But there’s a major caveat for inherited property. When you inherit a property, your cost basis is “stepped-up” to the property’s fair market value at the time you inherit it. Generally ...

6. Capital gains tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Capital_gains_tax_in_the...

   Under the stepped-up basis rule, [8] for an individual who inherits a capital asset, the cost basis is "stepped up" to its fair market value of the property at the time of the inheritance. When eventually sold, the capital gain or loss is only the difference in value from this stepped-up basis.

7. What Is the Cost Basis of Inherited Stock? - AOL

   www.aol.com/news/cost-basis-inherited-stock...

   Whether you inherited the stocks through a brokerage, will or trust, calculating the cost-basis stays the same. However, the stepped-up rule only applies to inherited stocks (and other financial ...

8. Taxpayer Relief Act of 1997 - Wikipedia

   en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

   As inherited assets are automatically revalued to their current or "stepped-up" basis, any capital gains are permanently exempted from taxation. Family farms and small businesses could qualify for an exemption of $1.3 million, effective 1998. Starting in 1999, the $10,000 annual gift tax exclusion was to be corrected for inflation.

9. The Gifting Strategy That Could Help You Avoid Estate Taxes - AOL

   www.aol.com/upstream-gifting-help-avoid-estate...

   The strategy revolves around the step-up in basis that’s given to assets inherited by heirs. The idea is to reverse the flow of an estate's valuable property from going "downstream" – to ...