qbteachmt
Level 15

Are you sure step-up applies? Was the person already acting as trustee for their trust (the trust already was the partner)? What type of trust is it? Revenue Ruling 2023-2 makes clear that there's no step-up in basis for assets in an irrevocable grantor trust. Or, did it pass through a revocable trust from the estate?

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"Level Up" is a gaming function, not a real life function.
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