Written for a symposium on how Trusts & Estates might change in the future, this article considers the implications of repealing the “step-up in basis” rule for inherited property, as President Biden proposed. The article begins by explaining how this century-old tax rule affects gratuitous transfers and then reviews previous repeal efforts before it examines the impact of such repeal on family tax planning, retirement account funding, and charitable donations.
Kaplan, Richard L.
"When the Stepped-Up Basis of Inherited Property Is No More,"
ACTEC Law Journal: Vol. 47:
1, Article 10.
Available at: https://scholarlycommons.law.hofstra.edu/acteclj/vol47/iss1/10