Tax and Estate Planning Archives

Understanding Step-Up in Cost Basis for Inherited Property in Texas

April 5, 2026 by Landifyr Team

Introduction to Step-Up in Cost Basis The concept of step-up in cost basis plays a crucial role in the realm of inherited property, particularly in Texas. This provision refers to the adjustment of the cost basis of an asset to its fair market value at the time of the original owner’s death. By implementing this … Read more

Understanding Step-Up in Cost Basis for Inherited Property in North Dakota

April 5, 2026 by Landifyr Team

Introduction to Cost Basis and Its Importance Cost basis is a fundamental concept in property ownership, serving as a critical factor in determining the taxable gain or loss from a sale of an asset. Essentially, it refers to the original value of an asset for tax purposes, adjusted for any improvements made, depreciation claimed, and … Read more