jesdq1
Level 4
02-16-2024
05:13 PM
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It is my understanding that irrevocable trusts do not allow the stepped-up basis, I was not aware that other kinds of trusts do not allow a stepped-up basis. You are correct I have a revocable trust. The fact that the house was the personal residence of the grantor...does that have any effect on the stepped-up basis? Thank You