loirb0313
Level 1
12-06-2019
08:25 PM
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I would agree there isn't anything "inside" to step up. S Corp owns assets, they are sold after sole member death to an unrelated third party. The assets are sold for capital gains. Capital Gains are added to basis of now deceased member which is the step up. Although admittedly, I am not real conversant in Sect 754.