S Corp Files—The Case To Find A Post-Death Inside Basis Step Up

Private Client Services Partner Stefanie Lipson authored the article "S Corp Files—The Case To Find A Post-Death Inside Basis Step Up" in Bloomberg Tax. The article examines what inside basis adjustments may be available when an S corporation’s owner dies holding real estate through a partnership investment.

Excerpt

When you learn that a decedent held an interest in an S corporation that owns real estate, it is not uncommon to hear an audible groan in the room, a collective lamenting of the loss of the opportunity for a basis adjustment to the underlying real estate that would be easily available if we just had a partnership which owned the real estate instead of an S corporation.

Resources

• Bloomberg Tax