Does basis step up when Living trust becomes a family trust?

jeremymoore — Tue, 04 Jun 2019 18:20:52 GMT

"Does basis step up when Living trust becomes a family tr...

Anonymous_ — Tue, 04 Jun 2019 18:20:53 GMT

"Does basis step up when Living trust becomes a family trust?"

Yes, the trust will receive assets with a stepped up basis provided it received those assets from a decedent per Section 1014 of the Internal Revenue Code.

If assets were merely transferred from one trust to another, there would be no basis step up.

topic Does basis step up when Living trust becomes a family trust? in Business & farm

Does basis step up when Living trust becomes a family trust?

"Does basis step up when Living trust becomes a family tr...