<<Well, count yourself as another Bush (tax cut) supporter. Congratulations.>>I didn't know Bush favored getting rid of the stepped-up basis along with the inheritance tax.No, more than favored, rather it is already passed into law.See here -http://www.smartpros.com/x41456.xmlexcerpt - Cost basis: What do you guess this time? If you expect it to be market value at the time of death, you are wrong! The 2001 "tax cut" did away with the stepped-up basis after 2010. In its place will be the decedent's adjusted cost basis.
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