MLchartDataset catalogue

Stepped-up basis

Term · Law · MLC-T-LAW-004698

A tax provision that adjusts the cost basis of an inherited asset to its fair market value on the date of the decedent's death. This adjustment can significantly reduce capital gains taxes if the asset has appreciated in value. It applies to assets inherited from a deceased individual.

Table 1. Record
IdentifierMLC-T-LAW-004698
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004698",
  "term": "Stepped-up basis",
  "field": "Law",
  "definition": "A tax provision that adjusts the cost basis of an inherited asset to its fair market value on the date of the decedent's death. This adjustment can significantly reduce capital gains taxes if the asset has appreciated in value. It applies to assets inherited from a deceased individual.",
  "url": "https://mlchart.com/terminology/law/stepped-up-basis/"
}

Record 4,793 of 5,445 in Law terminology (MLC-0107). Request the full dataset.