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I was Deeded property in 2005 but it was Reserved unto the Grantors an estate for life. Can I get the step up value as of 2021 when the last grantor passed? FMV date?

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I was Deeded property in 2005 but it was Reserved unto the Grantors an estate for life. Can I get the step up value as of 2021 when the last grantor passed? FMV date?

Yes, you get stepped-up basis. Your basis is the fair market value on the date of death of the last person who had a life estate.

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