Repeal of Basis Step-Up: Third Time’s the Charm?

“Under the current tax code, most inherited assets receive a “step-up” in basis to fair market value on the date of the decedent’s death. President Biden’s proposal to repeal the step-up in basis could have an enormous impact on ultra-high-net-worth and high-net-worth investors if passed.

Understanding historical attempts to repeal the step-up in basis may help reduce client anxiety and assist advisors in successfully navigating the uncertainties of today’s tax environment.” Continue reading.

(Source: Aperio Group)
3-minute read.