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  2. Do I Pay Taxes Automatically If I Inherit Property? - AOL

    www.aol.com/finance/capital-gains-inherited...

    Sale price ($500,000) - Stepped-up original cost basis ($500,000) = $0.00 taxable capital gains On the other hand say that you hold the house for a year, during which time the price of this house ...

  3. Stepped-up basis - Wikipedia

    en.wikipedia.org/wiki/Stepped-up_basis

    A stepped-up basis can be higher than the before-death cost basis, which is the benefactor's purchase price for the asset, adjusted for improvements or losses. Because taxable capital-gain income is the selling price minus the basis, a high stepped-up basis can greatly reduce the beneficiary's taxable capital-gain income if the beneficiary ...

  4. Cost basis - Wikipedia

    en.wikipedia.org/wiki/Cost_basis

    Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/(saves) taxes on a capital gain /(loss) that equals the amount realized on the sale minus the sold property's basis.

  5. How do you calculate cost basis on investments? - AOL

    www.aol.com/finance/calculate-cost-basis...

    The different methods used to calculate cost basis include: First In, First Out (FIFO): The oldest shares you purchased are sold first. It’s the default method used by many brokerages if you don ...

  6. Marital deduction - Wikipedia

    en.wikipedia.org/wiki/Marital_deduction

    Gifts from a spouse may be eligible for marital deductions if the following requirements are met: (1) marital status requirement; [10] (2) citizenship requirement; [11] and (3) the interest must not conclude due to the cause of a certain event or after a specified amount of time has passed.

  7. What Is the Cost Basis of Inherited Stock? - AOL

    www.aol.com/news/cost-basis-inherited-stock...

    Cost Basis Explained. In general terms, cost basis is the original price you paid to purchase something. In this case, it’s the purchase price of an asset like a stock and it’s adjusted for ...

  8. Estate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Estate_tax_in_the_United...

    In addition, a maximum amount, varying year by year, can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes: [4] $5,340,000 for estates of persons dying in 2014 [5] and 2015, [6] $5,450,000 (effectively $10.90 million per married couple, assuming the deceased spouse did not leave assets to ...

  9. Do I have to pay off my spouse's debts when they die? Here's ...

    www.aol.com/finance/pay-off-spouses-debts-die...

    This means that a surviving spouse must pay the debts of the deceased spouse using jointly-held property, such as a home. States include Alaska (if a special agreement is signed), Arizona ...