Don’t confuse ‘stepped-up basis’ with property tax basis

'Stepped-up' refers to adjusted-cost basis for inherited property
Published on May 25, 2006

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by CareyBot

DEAR BOB: I read your recent item about property “stepped-up basis” with great interest, but I wish you had taken it further. Suppose an owner deeds you a house purchased for $100,000, which is now worth $300,000, and you live ...