What about NUA in a 401k? I will get to put that into a regular brokerage account after I pay the cost basis when I choose to move it out. Will my heirs get a step up? Yes i am in a community property state.
Hey Paul. Love the channel. I know everyone uses the example of an “appreciated” asset, but doesn’t it work both ways? If you elected to do a step up, the new basis is the value at death, which includes the value of an asset that has actually gone down in value. You have to step up/down all assets, as I understand. Let me know how wrong (or correct) I am. Thanks again for the vast info you provide.
Paul-enjoy your videos! I jointly owned a home (with rights of survivorship) with my partner, who passed in 2022. Is there a step up in basis of the home?
I have a quit claim deed that transfers, the property from my mother, to myself upon her death how will I be taxed once she passes and I record the deed. I am in Michigan
General Question about living trusts .Can married couples who fund their home into a living trust, can still get the married couple capital gains exemption of $400,000 if they sell their home thats now in a living trust ?
Great video. Thank you for educating me on this topic.
What about NUA in a 401k? I will get to put that into a regular brokerage account after I pay the cost basis when I choose to move it out. Will my heirs get a step up? Yes i am in a community property state.
Love your blogs. Thank you.
I learned something today, thank you.
Hey Paul. Love the channel. I know everyone uses the example of an “appreciated” asset, but doesn’t it work both ways? If you elected to do a step up, the new basis is the value at death, which includes the value of an asset that has actually gone down in value. You have to step up/down all assets, as I understand. Let me know how wrong (or correct) I am. Thanks again for the vast info you provide.
When the person received the Real Estate from a Trust, how does IRS knows and accepts the step -up basis amount ?
Paul-enjoy your videos! I jointly owned a home (with rights of survivorship) with my partner, who passed in 2022. Is there a step up in basis of the home?
What about the limit on amount you can gift to 1 person/year without tax implications????
Who decides what the mail market value of a property was at the time of death? Help!
"My favorite uncle Sam" Hahahahahahaha... Most hated uncle is more like it :-)
What if your children hold it until death is it locked at the step up basis or can it be stepped up again
Who decides what the fair market value of real estate was at the time of death .help!
Residence exclusion is only $250'000 if single?
I have a quit claim deed that transfers, the property from my mother, to myself upon her death how will I be taxed once she passes and I record the deed. I am in Michigan
Shinners and Cook are in Saginaw, Michigan. They are real experts on such topics related to estate law in MI.
Check out a ladybird deed , no probate and no inheritance tax .
Ladybird deeds are allowed in Michigan but there are only about 5 states that allow the use of this type of deed.@@beckymuska2620
General Question about living trusts .Can married couples who fund their home into a living trust, can still get the married couple capital gains exemption of $400,000 if they sell their home thats now in a living trust ?
Bedrock was next to Hollyrock which is obviously in Californirock.
I think the cartoon had Pebbles and BamBam marrying. So, your examples still work.
Like the info. But it takes way too long you to actually get to the point. For better and worse, many like me don’t have the time to wait around…
When someone dies, who decides what the fair market value is on a piece of property to determine what the step up in basis will be?
I got to 58 min. pre recorded and there was 17 ads!! Too distracting and annoying.
Do beneficiaries of Ibonds get a step up basis?
Barney and Betty died so Fred and Wilma adopted Bam Bam.
Where does life insurance go?