What Is Step-Up In Basis? A Quick Guide for Buyers Seeking Inheritance Properties

Inheriting a property can be a bittersweet experience, bringing both sentimental value and potential financial complexities. One key aspect to understand in such situations is "step-up in basis," a tax rule that can significantly impact your future tax liability. This guide delves into the world of step-up in basis, how it works, and its implicatio...