@RayW7 wrote:
A step-up in basis is the readjustment of the value of an appreciated asset for tax purposes upon inheritance. 1 The higher market value of the asset at the time of inheritance is considered for tax purposes...
For shares of a publicly traded corporation you take the high and low for the day on the date of death, add them together, and then divide by two (i.e., average the high and the low).
