Q: In Washington State, if a married couple sells their home & 1 partner dies, does the estate lose the stepped up basis?
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A: It sounds like the sale occurred first, followed by the death. Accordingly, the capital gains tax will be calculated as of the date of sale. There will be no step in basis as of the subsequent death, because the property was already sold. Presumably the sale generated cash, and that cash is what was owned as of the date of death. The basis of US dollars/ cash never changes.
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