U.S. tax question here.
If an heir receives gold coins from an estate, is the cost basis stepped up as it is with stocks, or is it completely different?
I imagine many an heir has no idea how much the coins cost on the date of purchase.
Is there a step-up in gold cost basis?
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- dualstow
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Is there a step-up in gold cost basis?
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Re: Is there a step-up in gold cost basis?
I believe there is a step-up in basis for ANY asset class... the heirs can elect to take the value at death of the grantor, or six months later, whichever is better for them.
- dualstow
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Re: Is there a step-up in gold cost basis?
Cool, thank you!
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Re: Is there a step-up in gold cost basis?
The step-up in basis applies to almost all inherited assets.
Not to annuities though, IIRC.
Not to annuities though, IIRC.
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Re: Is there a step-up in gold cost basis?
50,100 year bonds? Why not just 50,000 years?
- dualstow
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Re: Is there a step-up in gold cost basis?
Is that second reply for a different thread?
oh, it’s my sig. i’ll fix it.
oh, it’s my sig. i’ll fix it.
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