Does revocable living trust get step up in basis at death of grantor?
Client with a living trust died. At his death does the trust get a step up in basis of the assets in the trust?
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04/05/09 2:09am PDT
Viewed by asker 04/02/10 12:43am PDT
Viewed by asker 04/02/10 12:43am PDT
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04/05/09 3:35am PDT
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The solution
Since it is required to be included in the estate, then yes it will receive a stepped up basis (See IRC section 1014 and Treas. Reg. 1.1014-1 through 1.1014-8).
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