If you are considering passing property to heirs, understand the stepped-up basis benefit under IRC §1014 - at death, the property's basis resets to fair market value, potentially eliminating decades of accumulated gains. Selling during your lifetime triggers immediate capital gains tax. For some sellers, holding the property and passing it through an estate is more tax-efficient. Consult with an estate planning attorney to evaluate your situation.
From the seller playbook: Estate Planning Integration
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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