Date of Death appraisals to reduce estate tax using the IRS real estate value stepped-up basis tax benefit.
Date of Death appraisals to reduce estate tax using the IRS real estate value stepped-up basis tax benefit.
Thank you for considering our appraisal services. We understand that this may be a difficult time for you and your family and will do our best to help you in a professional manner that is sensitive to your loss.
Thank you for considering our appraisal services. We understand that this may be a difficult time for you and your family and will do our best to help you in a professional manner that is sensitive to your loss.
What We Do
What We Do
We prepare appraisals that allow our clients to significantly reduce estate taxes. Congress has permitted the readjustment of the value of a home for tax purposes upon inheritance. Instead of having to pay taxes on the increase in value of the property from the date it was purchased, beneficiaries can use our appraisals to change that calculation to the date the decedent passed away, usually saving hundreds of thousands of dollars in the tax calculation.
We prepare appraisals that allow our clients to significantly reduce estate taxes. Congress has permitted the readjustment of the value of a home for tax purposes upon inheritance. Instead of having to pay taxes on the increase in value of the property from the date it was purchased, beneficiaries can use our appraisals to change that calculation to the date the decedent passed away, usually saving hundreds of thousands of dollars in the tax calculation.
For example: a home is originally purchased for $200,000, but has a value of $800,000 on the date of death. Without the Date of Death Appraisal, the beneficiary will have to pay taxes on $600,000 if they sell the home immediately, or potentially more if sold in the future. WITH the Date of Death Appraisal, the beneficiary will pay takes on $0 if they sell the home immediately for $800,000, or if it has increased to $1,000,000 in the future, taxes will only have to be paid on the $200,000 increase.
For example: a home is originally purchased for $200,000, but has a value of $800,000 on the date of death. Without the Date of Death Appraisal, the beneficiary will have to pay taxes on $600,000 if they sell the home immediately, or potentially more if sold in the future. WITH the Date of Death Appraisal, the beneficiary will pay takes on $0 if they sell the home immediately for $800,000, or if it has increased to $1,000,000 in the future, taxes will only have to be paid on the $200,000 increase.
Where would you like to go next?
Where would you like to go next?
Start the Process
Start the Process