stepped-up basis
- A raised value of inherited property from its original cost to its market value upon the previous owner's death, reducing taxable capital gain when the property is sold
- After their father's death, the siblings benefited from the stepped-up basis of the family home when they sold it.
- By using the stepped-up basis, the taxable gain was considerably less when he sold his inherited shares.
- The stepped-up basis of the property greatly reduced the capital gains tax payable when she sold the apartment left her by her grandmother.
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