@hntrust wrote:
Thanks, can you point me to the references that you found?
I'm going to pass on that because, as I said, I'm unsure myself, and I don't want to post links that I can't 100% vouch for. However, @Anonymous_ is extremely knowledgeable in this area and if they agree that the recipient of an JTWROS by gift (with no personal investment) and who is not spouse, qualifies for a fully stepped up basis, that's convincing to me. And you have section 2040. But I will also reiterate that it is time to see an estate planning attorney. An estate plan should be reviewed every few years anyway, because tax laws, medical conditions and financial conditions change. (And you should have a similar discussion with your daughter, any other children you may have, your spouse if married, and your own attorney. It's really important. You might not think it is, but all of a sudden, it matters.)
Two or three anonymous people on the internet, no matter how much they seem to know, are no substitute for professional counsel.
