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irrevocable trust asset received and then willed to children
I received stocks from an irrevocable trust. If I sell the stocks now I have been advised that they would not have a stepped up stock basis. If I never sell the stocks received from the trust, then will the stocks that are now in my revocable trust to my children, when I pass and my children inherit the stocks, will they be taxed on a stepped up basis? The stock was transferred from the trust to my brokerage account.
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‎July 20, 2022
12:15 PM