[WSBARP] Stepped up basis

[Eric Nelsen]

Please post responses to list!

My guess based on logic (“logic” = a way of doing things wrong, but with confidence): There is a step-up in basis only as to the decedent’s interest. By definition, JTWROS interests are equal, so the basis on his 50% interest is stepped up, but her 50% is not. I have no IRS regulation or statutory cite to back this up.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Douglas Scott
Sent: Tuesday, September 17, 2024 9:51 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Stepped up basis

Unmarried (non-marital union) couple owned real estate as joint tenants with the right of survivorship.  Man dies and the woman gets the property.  Is there a stepped up basis for the woman?

DOUGLAS W. SCOTT
Rainier Legal Advocates|LLC

465 Rainier Blvd. N., Suite C
Issaquah, Washington 98027
425.392.8550 (tel)
425.392.2829 (fax)



www.rainieradvocates.com<http://www.rainieradvocates.com/>


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