Submitted By: someone
Answered: September 11, 2017 11:22 pm

I put property in a living trust. Will that property receive a stepped up basis when I die?

When property is transferred from a living (revocable) trust to a beneficiary on the death of the grantor, the beneficiary receives a stepped-up basis. Any appreciation after the grantor’s death is taxable to the beneficiary when he/she sells the property.

advertisement
Tax Glossary

Section 179 deduction (or First-year expensing)

A deduction allowed for investments in depreciable business equipment in the year the property is placed in service.

More terms