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All About the Stepped-Up Basis Loophole
SmartAsset via Yahoo Finance· 1 year agoStepped-up basis is a tax provision that allows heirs to reduce their capital gains taxes. When someone inherits property and investments, the IRS resets...
Do I Pay Taxes Automatically If I Inherit Property?
SmartAsset via Yahoo Finance· 2 months agoWhen you inherit property, the IRS applies what is known as a stepped-up basis to that asset. Here's how capital gains are taxed on inherited property.
How to invest an inheritance
Bankrate via AOL· 6 hours agoOur writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding...
Inherited your mom's 1960s home? How to use a 1031 exchange to build wealth, save on taxes
USA TODAY via Yahoo Finance· 3 months agoIf you’ve inherited your mom’s 1960s-style house, you might be wondering what to do with it. The...
Our father died, then our stepmother passed away. Will my siblings and I owe taxes when we sell...
MarketWatch via Yahoo Finance· 2 months ago“I believe the cost basis is the value of the house upon my father’s death, when the house went from...
IRS Quietly Changed the Rules on Your Children’s Inheritance
Kiplinger via Yahoo Finance· 11 months agoProperty, such as your home, held in an irrevocable trust 'that is not included in the taxable...
IRS Rule Change May Affect How You Leave Assets to Heirs
SmartAsset via AOL· 2 months agoManaging your taxes can be one of the most complex aspects of estate planning and a new IRS rule...
What happens if you inherit a house with a mortgage?
Bankrate via AOL· 2 months agoKey takeaways A deceased person's mortgage becomes the responsibility of the person inheriting the home. The heir has several options such as moving into...
I Inherited Property. How Can I Tell Its Fair Market Value?
SmartAsset via AOL· 10 months agoInheriting property, whether expected or unexpected, can raise some questions about what to do with it and what it's worth. Specifically, you'll need to know the property's fair market value ...
Death, like taxes, is certain: Nail down your household's must-know details
Florida Today via Yahoo News· 1 year agoQ: I just heard that men have shorter life expectancies because of health and lifestyle, and many...
