The step-up in cost basis can significantly reduce capital gains taxes on inherited assets.
This little-known rule can dramatically cut taxes on inherited property. mojo cp/Shutterstock
If you are inheriting property such as a stock portfolio or real estate, you may benefit immensely from the step-up in cost basis rule.
Some even call it a tax loophole, but it was made possible by Section 1014(a) of the Internal Revenue Code.
