#stepped-up basis

3 stories

#estate planning #capital gains tax #california #estate tax #fair market value #florida #home appraisal #inheritance #inherited homes #irs valuation #lady bird deed #medicaid look-back

The Lady Bird deed trick that saves your house
One deed clause lets you transfer your home to your child while keeping full control, dodging Medicaid penalties and erasing decades of capital gains taxes.
24/7 Wall St. · 2m
How the IRS values and audits inherited homes
Real estate makes up a third of what parents leave behind, but most heirs don't know the tax rules.
Kiplinger · 3m
California inheritance tax trap you didn't see coming
Proposition 19 quietly rewrote California's inheritance rules, turning modest property tax bills into five-figure annual obligations overnight.
24/7 Wall St. · 2m