TaxGuyBill
Level 15
05-16-2024
05:49 PM
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@Business Clinic wrote:
I have read that the stepped-up basis would then be calculated on the date of sale
Basis is the value on the Date of Death. However, if an 'official' appraisal is not available and you don't have reason to believe the value significantly changed in the short time after death, it is common to estimate the value by using the sale price (assuming the sale was shortly after death).