stepped up basis

The basis of property transferred by inheritance.

• Stepped-up basis equals the fair market value of property on the date of the decedent’s death (or on the alternate valuation date). [Cases: Internal Revenue 3205. C.J.S. Internal Revenue § 116.]

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词条贡献者

双语律师Shifang，知名法学院法律专业，擅长翻译各类与企业改组和重组相关的法律文件。