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To: deibutfeif who wrote (141552)	8/14/2001 12:45:56 PM
From: GVTucker	Read Replies (2) \| Respond to of 186894

debutfeif, RE: I think that depends on how its titled (JTROS or Common Property) and state of residence, and then only if the heir is your spouse. Doesn't work for non-spouses. I'm not a tax accountant, but I am pretty sure that is in error. Anything that is subject to the estate tax is subject to the rule on stepped up basis. I think that you're confusing the rule on the exemption from estate tax (which indeed only works for a spouse) with the rule on stepped up basis, which has nothing to do with spouses. More applicable here is Duke of URL's point on the relative tax rates of capital gains vs the estate tax.

To: deibutfeif who wrote (141552)	8/14/2001 1:04:44 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 186894

how its titled (JTROS or Common Property) and state of residence, and then only if the heir is your spouse. Doesn't work for non-spouses ~dbf I am sure you considered Sec. 1016(b) of the Internal Revenue Code of the United States of 1954, as amended, and I am sure that you meant to say that that code section attempts to treat all spousal property equally, regardless of how title is held and regardless of the nuances of the state of the title in any particular state, uh, you did right???? :))