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    Ronwald007's Avatar
    Ronwald007 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 27, 2007, 10:03 AM
    Stepped-up basis on personal property.
    My father just passed away and all of his property was in his trust, which is less than 1.5 mil.

    I understand his home now has a stepped-up basis to it's current fair market value.

    In a safe deposit box I found some gold kruggerands. Do these also get a stepped-up basis. I have no idea how I'd find out what he paid for them.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 27, 2007, 01:14 PM
    To my knowledge, stepped-up basis applies to ALL assets, which would include the gold coins. Otherwise, there would be no practical way to properly put a basis on the asset.
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