Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

A step-up in basis occurs when an appreciated asset is inherited from someone who has died, and the asset's cost basis is adjusted to fair market value as of the date of death. The cost basis of an ...

Inheriting an asset grants a step-up in basis, setting cost basis to FMV at death, reducing capital gains tax. Controversy surrounds step-up in basis, as it significantly lowers taxes on inherited ...