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Is there a stepped-up basis from a trust?
Deceased client left a trust to heirs. Do heirs get a stepped-up basis?
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It depends on the Trust.
Generally, a Revocable Trust would be stepped up and a Irrevocable Trust would not. But then there are such as weird things as an Intentionally Defective Irrevocable Trust which allows the step up, so it can be tricky.
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