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Will I lose the benefit of a stepped-up basis?

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S

stfein

Junior Member
What is the name of your state?What is the name of your state? MO


I am considering quit claim deeding my ownership interest out of my name and into a limited liability company (LLC) that I have set up.

My wife and kid will inherit from me should I drop dead. How is the cost basis treated if I should drop dead assuming I quit claim my ownership into the LLC. It is a single member LLC?

Are the benefis of a stepped up cost basis lost?

Thank you...
 


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