Client’s Dad passed away and left his son with the corporation in 2000.

a. Does my client receive a step up in cost basis on corporations?

b. If the property was valued at 1M back in 2000, but now is worth approx. 700-800k does my client have a loss if he sells?

c. he received approx. 10% of shares before his father passed away. Does this mean that the corporation step up in basis only get 90%?

Thank you for any information you can help with.

Douglas