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re: Best Way to Transfer Real Estate to Heirs

Posted on 8/21/23 at 4:14 pm to
Posted by Weagle25
THE Football State.
Member since Oct 2011
46279 posts
Posted on 8/21/23 at 4:14 pm to
quote:

Question about a step up in basis - does an appraisal have to get done at the time of her passing / inheritance? Or is the onus on the new owner at some unspecified time in the future to go back and prove what the property was worth when inherited?

There’s an election to move the valuation date to 6 months after death but I think you have to be subject to the estate tax.
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