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<p>[QUOTE="ChurnDog, post: 954345, member: 24404"]You may want to talk to the lawyer, but for estate purpose in 2010, there is no step up since there is no federal "death" tax this year. If the death happened prior to 2010 then there would still be a step up. There is an adjusment basis that comes into play, and the estate lawyer should be able to explain this.</p><p> </p><p> </p><p>here is a link to a website that explains it (<a href="http://registeredrep.com/mag/finance_end_steppedup_basis/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://registeredrep.com/mag/finance_end_steppedup_basis/" rel="nofollow">http://registeredrep.com/mag/finance_end_steppedup_basis/</a>) if this violates any terms please feel free to delete the link.[/QUOTE]</p><p><br /></p>
[QUOTE="ChurnDog, post: 954345, member: 24404"]You may want to talk to the lawyer, but for estate purpose in 2010, there is no step up since there is no federal "death" tax this year. If the death happened prior to 2010 then there would still be a step up. There is an adjusment basis that comes into play, and the estate lawyer should be able to explain this. here is a link to a website that explains it ([URL]http://registeredrep.com/mag/finance_end_steppedup_basis/[/URL]) if this violates any terms please feel free to delete the link.[/QUOTE]
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