After an owner’s passing, the home must be appraised and the cost basis for the house becomes the value assigned by the appraiser. This is known as the stepped-up basis. You can avoid capital gains taxes on inherited property…
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After an owner’s passing, the home must be appraised and the cost basis for the house becomes the value assigned by the appraiser. This is known as the stepped-up basis. You can avoid capital gains taxes on inherited property…