For example, let's suppose Jane purchases a share of stock at $2 and dies when its market price is $15. Had Jane sold the stock before dying at $15, she (or her estate after her death) would be liable for capital gains tax on a gain of $13. Instead, her heir's cost basis be...
Community property states may see what is called adouble step-up basis. This means that a spouse is able to take the first step-up basis when taking over the property held in a revocable living trust with the other spouse. When the second spouse dies, the beneficiary would get the second...