What Is Step-Up Basis?

Step Up BasisRecently, a good friend had her mother pass away suddenly. When I got the call, I reached out immediately, having been through a similar situation with my own parents. Aside from wanting to express my sympathy and support, I did also want to make sure my friend and her siblings were aware of an important tax ramification that my sister and I had learned about – that being the step-up basis.Read More