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Deductions & credits
Thankyou Bsch4477
Unfortunately the article does not address my question.
I.e., In a Community Property State - Upon the death of my spouse, can the cost basis for my stock beyond the value of the NUA increase to the value on her date of death?
Unless I missed something, the article only speaks to a step up for a beneficiary. This I know.
"NUA amounts do not receive a step up in cost basis at the owner’s death. When your
beneficiaries sell the stock they inherit, they will owe long-term capital gains tax on the NUA.
Any additional appreciation between the date of distribution and the date of death would be
entitled to a stepped-up basis in the shares they inherit under the current law"
July 4, 2023
12:03 PM