Step Up Basis in California - Spidell

Step Up Basis in California

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Message Board Step Up Basis in California

  • This topic has 2 replies, 2 voices, and was last updated 4 days ago by Diane Herman.
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    • #305318
      Diane Herman
      Participant

      What are the rules in California for a married couple who has their spouse pass away as far as the step up in basis is handled?

      I had client get FMV of properties on his date of death and for some reason I believe it depends on how the property is held????

      Brain still in daze..Thank you

       

       

    • #305334
      Lynn Freer
      Participant

      Yes if the property is held as community property they get a full step up and if held as joint tenants they get step on on half

    • #305401
      Diane Herman
      Participant

      Good Morning…Thank you so much…That was my gut but it is always good to get assistance!

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