/ Ask Terry Questions / Stepped up cost basis

Stepped up cost basis

By Terry Savage on April 02, 2021 | Economy & Taxes

There is talk about eliminating the stepped up cost basis on assets being inherited by heirs. Would this include home values also? Thanks.

Terry Says

We haven’t seen the proposal yet. You know there is already a $250,000 per person exclusion on capital gains on a personal residence of at least 2 years. But if it becomes part of your estate…. well, we will have to see the details if Congress changes the law!



a personal
finance question