What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis? Or do they only ...
If you manage an irrevocable trust or are considering creating one, recent Internal Revenue Service (IRS) changes may directly affect your estate planning. A new regulation modifies how the step-up in ...
Dear Liz: I own a house with my longtime boyfriend. If one of us dies, how does the capital gains step-up affect the other? Answer: The deceased partner’s share of the home will get a new basis for ...
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