Qtip trust stepped up basis on home
I have Qtip for my wife which includes our home. The trust becomes irrevocable upon my death, and home does get stepped up basis on my death. Does it get an addtional stepped up basis when my wife dies, and home goes to my children from 1st marriage?
Permalink Submitted by Bruce Steiner on Sun, 2024-05-12 02:50
It will get a new basis at her death if your executors make a QTIP election for it on your estate tax return.