Q: What is the basis of securities that are inherited in a non-community property state?
I know that for jointly held property, the surviving spouse gets a "half-step." What is the basis when the surviving spouse dies: e.g. Does it get a half-step or a whole step?
Inherited property generally gets a stepped-up basis. If someone already owns part of property they cannot "inherit" the whole thing, hence a "half step" in basis.
For more specific answers you may wish to run your situation by an accountant and/or attorney.
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