- stepped–up basis
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stepped–up basis see basis 3
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
stepped–up basis
Look at other dictionaries:
stepped-up basis — An increased basis (value that is used to determine taxable profit or loss when property is sold) given to inherited property that went up in value after the deceased person acquired it but before the new owner inherited it. The basis of the new… … Law dictionary
Stepped-up basis — basis is the term used to describe the basis of property that a taxpayer receives from a decedent under the Internal Revenue Code § 1014(a). General rule Under IRC § 1014(a) the general rule applied to property a beneficiary receives from a… … Wikipedia
basis — ba·sis / bā səs/ n pl ba·ses / ˌsēz/ 1: something (as a principle or reason) on which something else is established the court could not imagine any conceivable basis for the statute see also rational basis 2: a basic principle o … Law dictionary
basis — Fundamental principle; groundwork; support; the foundation or groundwork of anything; that upon which anything may rest or the principal component parts of a thing. Accounting. Term used in accounting, especially in tax accounting, to describe… … Black's law dictionary
basis — Fundamental principle; groundwork; support; the foundation or groundwork of anything; that upon which anything may rest or the principal component parts of a thing. Accounting. Term used in accounting, especially in tax accounting, to describe… … Black's law dictionary
basis, stepped-up — n. A basis that is increased to a certain level at a particular date, usually in property transferred through inheritance. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
step-up in basis — USA stepped up basis, Also known as step up in basis. basis that is higher than the transferor s basis. For example, a buyer often receives a stepped up basis in assets acquired in a transaction structured as an asset acquisition and a transferee … Law dictionary
Cost basis — Part of a series on Taxation Taxation in the United States … Wikipedia
adjusted basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. adjusted basis n … Law dictionary
carryover basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. carryover basis … Law dictionary
