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    #1

    Step up in basis

    I have read that a step-up in basis cannot happen with an irrevocable trust because the trust does not become part of the T/P estate. Why would people put a house in an irrevocable trust, besides nursing home issues. Lawyers seam to hold a different position on the step-up basis issue of a home sale.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.
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    #2
    Read Rev Ruling 2023-2 - maybe that is the source of controversy.

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