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Will I Receive a Step-Up in Basis for Inherited Property?

Updated: May 12, 2019

In most cases, there is at least some kind of step-up in basis when property is inherited. But there are a few exceptions and some subtle distinctions that do occur. This flowchart addresses some of the most common issues that arise for an individual trying to understand how their cost basis is impacted as a result of property they inherited such as:

  • Impact of living in a community property state

  • Types of property that receive a step-up

  • Impact of selecting the alternative valuation date

  • Simple Ownership vs. JTWROS vs Tenants in Common

Updated: 4/18/2019


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